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

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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