On January 1, 2020 SANA ALL MAHAL Co. acquired land by issuing a three-year, 12%, P4,000,000 note payable. Principal and interest are due on December 31, 2022. How much is the interest expense in 2021? a. P1,017,600 b. P960,000 c. P537,600 d. P764,213
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On January 1, 2020 SANA ALL MAHAL Co. acquired land by issuing a three-year,
12%, P4,000,000 note payable. Principal and interest are due on December 31,
2022. How much is the interest expense in 2021?
a. P1,017,600
b. P960,000
c. P537,600
d. P764,213
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