11. How much is the interest income in 20x1? a. 88,825 b. 177,649 c. 128,964 d. 164,591 12. How much is the carrying amount of the receivable on December 31, 20x1? a. 1,241,083 b. 982,378 c. 1,690,051 d. 1,594,388 13. On January 1, 20x1, ABC Co. sold machinery costing ₱3,000,000 with accumulated depreciation of ₱1,100,000 in exchange for a 3-year, ₱900,000 noninterest-bearing note receivable due as follows: Date Amount of installment December 31, 20x1 400,000 December 31, 20x2 300,000 December 31, 20x3 200,000 Total 900,000 The prevailing rate of interest for this type of note is 10%. How much is the carrying amount of the receivable on December 31, 20x1? a. 467,354 b. 438,016 c. 376,345 d.428,346
Use the following information for the next two questions:
On January 1, 20x1, ABC Co. sold machinery with historical cost of ₱3,000,000 and
11. How much is the interest income in 20x1?
a. 88,825
b. 177,649
c. 128,964
d. 164,591
12. How much is the carrying amount of the receivable on December 31, 20x1?
a. 1,241,083
b. 982,378
c. 1,690,051
d. 1,594,388
13. On January 1, 20x1, ABC Co. sold machinery costing ₱3,000,000 with accumulated depreciation of ₱1,100,000 in exchange for a 3-year, ₱900,000 noninterest-bearing note receivable due as follows:
Date Amount of installment
December 31, 20x1 400,000
December 31, 20x2 300,000
December 31, 20x3 200,000
Total 900,000
The prevailing rate of interest for this type of note is 10%. How much is the carrying amount of the receivable on December 31, 20x1?
a. 467,354
b. 438,016
c. 376,345
d.428,346
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