On July 31, 20A, ABC Company discounted at the bank, a customer's P1.2 million, 6-month 10% notes receivable dated May 31, 20A. The bank discounted the note at 12%. How much did ABC COmpany recognized as Loss on receivable discounting under the conditional sale? Assume 30 days a month
On July 31, 20A, ABC Company discounted at the bank, a customer's P1.2 million, 6-month 10% notes receivable dated May 31, 20A. The bank discounted the note at 12%. How much did ABC COmpany recognized as Loss on receivable discounting under the conditional sale? Assume 30 days a month
Chapter1: Financial Statements And Business Decisions
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On July 31, 20A, ABC Company discounted at the bank, a customer's P1.2 million, 6-month 10% notes receivable dated May 31, 20A. The bank discounted the note at 12%. How much did ABC COmpany recognized as Loss on receivable discounting under the conditional sale? Assume 30 days a month
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