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tional Bank grante the amount of P1,500,0 Payments are due mon National Bank incurre cost and P20,000 of ind National Bank cha nonrefundable loan or 1. What is the init receivable on the a. 1,440,000 b. 1,480,000 c. 1,500,000 d. 1,520,000 . What is the initial on the part of Abbc a. b. 1,440,000 1,480,000 c. 1,500,000 d. 1,520,000

tional Bank grante the amount of P1,500,0 Payments are due mon National Bank incurre cost and P20,000 of ind National Bank cha nonrefundable loan or 1. What is the init receivable on the a. 1,440,000 b. 1,480,000 c. 1,500,000 d. 1,520,000 . What is the initial on the part of Abbc a. b. 1,440,000 1,480,000 c. 1,500,000 d. 1,520,000

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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Kindly answer this and provide an explanation particularly to the “4 point” part. Thanks
sido Problem 7-10 (AICPA Adapted) the amount of P1,500,000 with a stated interest rate of 6%. National Bank granted a 10-year loan to Abbo Company in Payments are due monthly and are computed to be P16,650. cost and P20,000 of indirect loan origination cost. In addition, National Bank incurred P40,000 of direct loan origination National Bank charged Abbo Company a 4-point nonrefundable loan origination fee. Legfe 1. What is the initial carrying amount of the loan receivable on the part of National Bank? a. 1,440,000 b. 1,480,000 c. 1,500,000 d. 1,520,000 2. What is the initial carrying amount of the loan payable on the part of Abbo Company? a. 1,440,000 b. 1,480,000 c. 1,500,000 d. 1,520,000 Problem 7-11 (AICPA Adapted) Problem Kalibo R January paymer at 8%. The fi 1, 201 duri How exp rea O
Transcribed Image Text:sido Problem 7-10 (AICPA Adapted) the amount of P1,500,000 with a stated interest rate of 6%. National Bank granted a 10-year loan to Abbo Company in Payments are due monthly and are computed to be P16,650. cost and P20,000 of indirect loan origination cost. In addition, National Bank incurred P40,000 of direct loan origination National Bank charged Abbo Company a 4-point nonrefundable loan origination fee. Legfe 1. What is the initial carrying amount of the loan receivable on the part of National Bank? a. 1,440,000 b. 1,480,000 c. 1,500,000 d. 1,520,000 2. What is the initial carrying amount of the loan payable on the part of Abbo Company? a. 1,440,000 b. 1,480,000 c. 1,500,000 d. 1,520,000 Problem 7-11 (AICPA Adapted) Problem Kalibo R January paymer at 8%. The fi 1, 201 duri How exp rea O
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