3) Mann Company reported on June 20, 2015 a 10% note payable in the amount of Php 3,600,000. The note is dated October 1, 2014 and is payable in three equal annual payments of Php 1,200,000 plus interest The first interest and principal payment was made on October 1, 2015. a) On June 30, 2016, what amount should be reported as accrued interest payable? b) What amount should be reported as Notes Payable on June 30, 2016? c) How are you going to present the liabilities (current and non current) with corresponding amounts in the statement of financial position?

On July 1, 2017, Agincourt Inc. rendered services in exchange for a 4%, 8-year promissory note having a face value of $500,000 (interest payable annually). Agincourt Inc. recently had to pay 8% Interest for money that it borrowed from British National Bank. The customer of the above fransaction has credit ratings that require them to borrow money at 12% interest. The present value of 1 at 12% for 8 perlods 0.40388 The present value of an ordinary annuity 4,9676 of 1 at 12% for 8 perlods Instructions By hew much amount Ihe service revue wil be credited? (Please wite your answer without commas or sign of the doliar. For example ifyour answer is SI0.000, Swrite it 10000)

Mission Corp. borrowed $25,000 cash on April 1, 2016, and signed a one-year 8%, interest-bearing note payable. The interest and principal are both due on March 31, 2017.What is the amount to be paid to the bank on March 31, 2017 for interest and principal (combined)?

On October 1, 2017, Chung, Inc. assigns $1,000,000 of its accounts receivable to Seneca National Bank as collateral for a $750,000 note. The bank assesses a finance charge of 2% of the receivables assigned and interest on the note of 9%. Prepare the October 1 journal entries for both Chung and Seneca.