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 due
Posted: Fri Jul 01, 2022 8:52 am
On Jan 1, 20X1, ABC Co sold land with a fair value of P110,000and received a non interest bearing note of P150,000 due in 3years. Effective rate is 10%. Interest is collectible every Jan 1of the following year. How much is the notes receivable aspresented in the balance sheet at Dec 31, 20X1?
82,645
110,000
112,697
150,000
82,645
110,000
112,697
150,000