PROBLEM 13 LIGO Company has P3,000,000 note receivable from sale of plant bearing interest at 12% per annum. The note is dated June 1, 2020. The note is payable in three annual installments of P1,000,000 plus interest on the unpaid balance every June 1. The initial principal and interest payment was made on June 1, 2021. 36. The interest income from this note for 2021 is:
PROBLEM 13 LIGO Company has P3,000,000 note receivable from sale of plant bearing interest at 12% per annum. The note is dated June 1, 2020. The note is payable in three annual installments of P1,000,000 plus interest on the unpaid balance every June 1. The initial principal and interest payment was made on June 1, 2021. 36. The interest income from this note for 2021 is:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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PROBLEM 13
LIGO Company has P3,000,000 note receivable from sale of plant bearing interest at
12% per annum. The note is dated June 1, 2020. The note is payable in three annual
installments of P1,000,000 plus interest on the unpaid balance every June 1. The initial
principal and interest payment was made on June 1, 2021.
36. The interest income from this note for 2021 is:
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