Mr. X provided the following data on sale of his personal property sold in 2020 held by him for 15 months: Cost P225,000 Mortgage assumed by the seller 270,000 Installment Collection Schedule: 2020 67,500 2021 67,500 2022 45,000 How much is the contract price? Group of answer choices P180,000 P450,000 P225,000 P270,000

Mr. X provided the following data on sale of his personal property sold in 2020 held by him for 15 months: Cost P225,000 Mortgage assumed by the seller 270,000 Installment Collection Schedule: 2020 67,500 2021 67,500 2022 45,000 How much is the contract price? Group of answer choices P180,000 P450,000 P225,000 P270,000

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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