Accounts Receivable balance on December 31, 2009 amounted to P1,500,000. Of this amount, P7,500 are estimated to become uncollectible. As of December 31, 2009, the P7,500 allowance for doubtful...

Accounts Receivable balance on December 31, 2009 amounted to P1,500,000. Of this amount, P7,500 are estimated to become uncollectible. As of December 31, 2009, the P7,500 allowance for doubtful accounts should be presented as deduction on what account in the Balance Sheet?