Portia Co. uses the installment method of income recognition. The entity provided the following pertinent data:   20x1 20x2 20x3 Installment sales P600,000 P750,000 P720,000 Cost of goods sold 450,000 570,000 504,000 Balance of deferred gross profit at year-end 20x1 105,000 30,000 - 20x2   108,000 18,000 20x3     144,000 REQUIRED: Total balance of Installment Receivable on December 31, 20x3 =

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