mber sold her personal property in 2019, with details as follows: Cost ₱ 600,000 Mortgage assumed by the buyer 350,000 Installment collection schedule: 2019 200,000 2020 200,000 2021 80,000 How much is the initial payments?

mber sold her personal property in 2019, with details as follows: Cost ₱ 600,000 Mortgage assumed by the buyer 350,000 Installment collection schedule: 2019 200,000 2020 200,000 2021 80,000 How much is the initial payments?

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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Question

Amber sold her personal property in 2019, with details as follows:

Cost ₱ 600,000

Mortgage assumed by the buyer 350,000

Installment collection schedule:

2019 200,000

2020 200,000

2021 80,000

How much is the initial payments?

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