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Question - As of January 1, 2021, Apollo Co. had a credit balance of P520,000 in its allowance for uncollectible accounts. Based on experience, 2% of Apollo's gross accounts receivable have been uncollectible. During 2021, Apollo wrote off P650,000 of accounts receivable. Apollo's gross accounts receivable as December 31, 2021 is P18,000,000. How much bad debt expense should Apollo record for 2021?
a. P360,000
b. P880,000
c. P490,000
d. P230,000
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