Company AAA borrowed P1,000,000 on July 1, 2021 and issued a 9% one-year note payable every after three months starting September 30, 2021. The quarterly payments were P264,200 inclusive of interest. If Company AAA paid the required quarterly payments when due, what is the carrying value of the note payable on December 31, 2021 P528,400 P522,500 P511,162 P488.156
Company AAA borrowed P1,000,000 on July 1, 2021 and issued a 9% one-year note payable every after three months starting September 30, 2021. The quarterly payments were P264,200 inclusive of interest. If Company AAA paid the required quarterly payments when due, what is the carrying value of the note payable on December 31, 2021 P528,400 P522,500 P511,162 P488.156
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 1EA: Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the interest...
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![Company AAA borrowed P1,000,000 on July 1, 2021
and issued a 9% one-year note payable every after
three months starting September 30, 2021. The
quarterly payments were P264,200 inclusive of
interest. If
Company AAA paid the required quarterly payments
when due, what is the carrying value of the note
payable on December 31, 2021
P528,400
P522,500
P511,162
P488.156](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F23755f39-ffaf-4cf5-9f2d-a72b6fb0bb96%2Fb466f93e-d63d-4fc0-bf89-54c091a93284%2Fweidsg_processed.png&w=3840&q=75)
Transcribed Image Text:Company AAA borrowed P1,000,000 on July 1, 2021
and issued a 9% one-year note payable every after
three months starting September 30, 2021. The
quarterly payments were P264,200 inclusive of
interest. If
Company AAA paid the required quarterly payments
when due, what is the carrying value of the note
payable on December 31, 2021
P528,400
P522,500
P511,162
P488.156
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