In this case, how much is the maximum total amount that Derrick can legally collect from the debtors on due date? Just write the correct exact amount. No need to explain.
In this case, how much is the maximum total amount that Derrick can legally collect from the debtors on due date? Just write the correct exact amount. No need to explain.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
John, Anthony and Lorenzo borrowed from Derick and James in solidum the amount of P120,000.00 due on September 30, 2022. Debtors’ arrangement among each other is to pay only the exact amount that each benefited from the loan. Such that John used only P20,000.00 while Anthony and Lorenzo each took home P50,000.00 therefrom. In this case, how much is the maximum total amount that Derrick can legally collect from the debtors on due date? Just write the correct exact amount. No need to explain.
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