Liam Byrne borrowed Php 1,500,000 at 3% interest from Erik Torsten on July 1, 2022, the promissory note states that Liam

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answerhappygod
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Liam Byrne borrowed Php 1,500,000 at 3% interest from Erik Torsten on July 1, 2022, the promissory note states that Liam

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Liam Byrne borrowed Php 1,500,000 at 3% interest from Erik
Torsten on July 1, 2022, the promissory note states that Liam is to
pay the principal plus any accrued interest after a year. 3 months
after, Liam once again borrowed money, this time amounting to Php
750,000 from Kirra Foster. It was agreed upon that the payment of
both principal and interest for this loan will be after 6 months
from the date of loan, as stated in the provided promissory
note.
1. How much is Liam Byrne’s adjusted notes payable on December
31, 2022?
2. How much is Erik Torsten’s adjusted interest income on
December 31, 2022?
3. How much is Kirra Foster’s adjusted interest receivable on
December 31, 2022?
4. How much is Liam Byrne’s adjusted interest expense on
December 31, 2022?
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