book value of P60,000, the term of the sale were as follows: P120,000 down payment P120,000 payable on December 31 each of the next three years The agreement of sale made no mention of interest; however, 9% would be a fair rate for this type of Transaction. What should be the amortized cost of the note receivable on December 31,2022? P211,093 P110,092 P303,755 P360,000
book value of P60,000, the term of the sale were as follows: P120,000 down payment P120,000 payable on December 31 each of the next three years The agreement of sale made no mention of interest; however, 9% would be a fair rate for this type of Transaction. What should be the amortized cost of the note receivable on December 31,2022? P211,093 P110,092 P303,755 P360,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
On December 31,2021, PAUL Corporation sold for P480,000 an old machine having an original cost of P800,000 and a book value of P60,000, the term of the sale were as follows: P120,000 down payment
P120,000 payable on December 31 each of the next three years
The agreement of sale made no mention of interest; however, 9% would be a fair rate for this type of
Transaction. What should be the amortized cost of the note receivable on December 31,2022?
P120,000 payable on December 31 each of the next three years
The agreement of sale made no mention of interest; however, 9% would be a fair rate for this type of
Transaction. What should be the amortized cost of the note receivable on December 31,2022?
P211,093
P110,092
P303,755
P360,000
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