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My Fried Towel Company collected a note of ₱200,000 plus accrued interest of ₱20,000. The total assets of the company has increased by: ₱0 ₱220,000 ₱20,000 ₱200,000

My Fried Towel Company collected a note of ₱200,000 plus accrued interest of ₱20,000. The total assets of the company has increased by: ₱0 ₱220,000 ₱20,000 ₱200,000

FINANCIAL ACCOUNTING
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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My Fried Towel Company collected a note of ₱200,000 plus accrued interest of ₱20,000. The total assets of the company has increased by:

  1. ₱0
  2. ₱220,000
  3. ₱20,000
  4. ₱200,000

 

My Fried Towel Company collected a note of ₱200,000 plus interest of ₱20,000. The total assets of the company has increased by:

  1. ₱220,000
  2. ₱200,000
  3. ₱20,000
  4. ₱180,000
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