Information on a note receivable: Face amount P800,000 Effective Interest 14% PV of P1 @14%, n= 5 0.519369 PV of ordinary annuity of 1 @14 %, n=4 2.91371 PV of annuity of 1@14%, n=5 3.91371 The note is due in five equal annual installments. The first installment is due at initial recognition. What is the carrying amount of the note at initial recognition before any collection? 626,194 567,823 582,742 602,158
Information on a note receivable: Face amount P800,000 Effective Interest 14% PV of P1 @14%, n= 5 0.519369 PV of ordinary annuity of 1 @14 %, n=4 2.91371 PV of annuity of 1@14%, n=5 3.91371 The note is due in five equal annual installments. The first installment is due at initial recognition. What is the carrying amount of the note at initial recognition before any collection? 626,194 567,823 582,742 602,158
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 16Q: Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual...
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