Problem 11 On January 1, 2020, Molina Company sold a special machine that had a cash price of P900,000. The buyer paid P100,000 cash and signed a 4-year note The note specified that it would be paid off in four equal annual payments of P274,565 each starting on December 31, 2020. The payments include 14% interest. 12. The carrying amount of the receivable on December 31, 2020 is

Problem 11 On January 1, 2020, Molina Company sold a special machine that had a cash price of P900,000. The buyer paid P100,000 cash and signed a 4-year note The note specified that it would be paid off in four equal annual payments of P274,565 each starting on December 31, 2020. The payments include 14% interest. 12. The carrying amount of the receivable on December 31, 2020 is

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter14: Long-term Liabilities: Bonds And Notes

Section: Chapter Questions

Problem 11E

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