At January 1, 2020, I know this Company had a credit balance of P520,000 in its allowance for uncollectible accounts. Based on past experience, 2% of I know this’ credit sales have been uncollectible. During 2020, I know this wrote off P650,000 of accounts receivable. Credit sales for 2018 were P18,000,000. In its December 31, 2020 balance sheet, what amount should I know this report as allowance for uncollectible accounts? P590,000     P230,000 P880,000     P360,000

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