On Jan 1, 20X1, ABC Co sold land with a fair value of P110,000 and received a non interest bearing note of P150,000 paya

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answerhappygod
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On Jan 1, 20X1, ABC Co sold land with a fair value of P110,000 and received a non interest bearing note of P150,000 paya

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On Jan 1, 20X1, ABC Co sold land with a fair value of P110,000and received a non interest bearing note of P150,000 payable inequal annual installments in 3 years. Effective rate is 10%.Principal and interest is collectible every Jan 1 of the followingyear. How much is the notes receivable as presented in the balancesheet at Jan 1, 20X1?
82,645
110,000
112,697
124,343
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