On Jan 1, 20X1, ABC Corp received a P300,000 3-year note from a customer. The principal and interest of the note is collectible on Jan 1, 20X4. Effective interest rate is 10% . How is the interest income at Dec 31, 20X1? PV of P1 at 10% for 3n = .75131 PV of ordinary annuity of P1 at 10% for 3n = 2.48685 7,461 22,539 24,868 30,000
On Jan 1, 20X1, ABC Corp received a P300,000 3-year note from a customer. The principal and interest of the note is collectible on Jan 1, 20X4. Effective interest rate is 10% . How is the interest income at Dec 31, 20X1? PV of P1 at 10% for 3n = .75131 PV of ordinary annuity of P1 at 10% for 3n = 2.48685 7,461 22,539 24,868 30,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On Jan 1, 20X1, ABC Corp received a P300,000 3-year note from a customer. The principal and interest of the note is collectible on Jan 1, 20X4. Effective interest rate is 10% . How is the interest income at Dec 31, 20X1? PV of P1 at 10% for 3n = .75131 PV of ordinary annuity of P1 at 10% for 3n = 2.48685
7,461
22,539
24,868
30,000
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