1. On january 1, 2021, ABC Company sold merchandise for Php400,000 in exchange for cash of Php100,000 down payment and a note for the remainder that is payable in 3 years. The cash price is Php250,000. Prepare the journal entry 2. On january 1, 2021, ABC Company sold merchandise for Php400,000 in exchange for cash of Php100,000 down payment and a note for the remainder that is payable in three equal installments. The prevailing interest as of January 1, 2021 for the same type of note is 12%. Use a 5 decimal PV factor. Prepare the journal entry 3. On january 1, 2021, ABC Company sold merchandise for Php400,000 in exchange for cash of Php100,000 down payment and a note for the remainder that is payable after 4 years. The prevailing interest rate for this type of note is 10%. Round off PV factor up to 5 decimal places. Prepare the journal entry
1. On january 1, 2021, ABC Company sold merchandise for Php400,000 in exchange for cash of Php100,000 down payment and a note for the remainder that is payable in 3 years. The cash price is Php250,000. Prepare the
2. On january 1, 2021, ABC Company sold merchandise for Php400,000 in exchange for cash of Php100,000 down payment and a note for the remainder that is payable in three equal installments. The prevailing interest as of January 1, 2021 for the same type of note is 12%. Use a 5 decimal PV factor. Prepare the journal entry
3. On january 1, 2021, ABC Company sold merchandise for Php400,000 in exchange for cash of Php100,000 down payment and a note for the remainder that is payable after 4 years. The prevailing interest rate for this type of note is 10%. Round off PV factor up to 5 decimal places. Prepare the journal entry
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