JEJEMON Company reported the following balances after adjustment at the end of 2014 and 2013.
2014 2013
Accounts Receivable 5,250,000 4,800,000
Net Realizable Value 5,100,000 4,725,000
During 2014, the entity wrote-off customer accounts totaling P160,000 and collected P40,000 on accounts written-off in previous years. What amount should be reported as doubtful accounts expense for the year ended December 31, 2014?
a. P195,000
b. P150,000
c. P120,000
d. It cannot be determined from the given information