Problem 3* 5 points MD Company started business at the beginning of current year. The entity established an allowance for doubtful accounts estimated at 5% credit sales. During the year, the entity wrote off Php20,000 of uncollectible accounts. Merchandise purchased amounted to Php18,000,000 and ending merchandise inventory was Php3,000,000 Goods were sold at 20% above cost. The total sales comprised 80% sales on account and 20% cash sales. Total collections from customers, excluding cash sales, amounted to Php12,000,000. What is the net realizable value of accounts receivable at year-end? Your