2. The required allowance balance (per aging) on December 31, 2019, Is A. P29,354 C. P19,858 B. P19,058 D. P32,858. 3. The net realizable value of Saluyot's accounts receivable on December 31, 2019, amounts to A. P779,902 C. P793,200 B. P774,142 D. P788,664 PROBLEM NO. 3 You are examining the financial statements of SALUYOT COMPANY for the year ended December 31, 2019. Your audit of the accounts receivable and other related accounts disclosed the following information: 2. The only entries in the Bad Debts Expense account were: a. A credit for P1,296 on December 1, 2019, because customer A remitted in full for the account charged off October 31, 2019. b. A debit on December 31 for the amount of the credit to Allowance for Bad Debts. 3. The Allowance for Bad Debts account is presented below: Date Particulars Jan. 1 Balance Oct. 31 Uncollectible: Debit Credit Balance P15,250 Customer A P1,296 B 3,280 C 2.256 P6,032 9,218 Dec. 31 3% of P788,000 P23,640 32,858