On January 1, 2022. AA Company sold an equipment costing P5,000,000 and accumulated depreciation of P1,500,000. AA received a P1,000,000 cash and a 10%, 5 year, P7,000,000 note receivable every December 31 in equal annual installment of P1,000,000 plus interest starting December 31, 2022. Interest effective on this note when received is at 8%. How much is the interest income in AA's statement of comprehensive income for the period ending December 31, 2022? PV Factor-six decimal places
On January 1, 2022. AA Company sold an equipment costing P5,000,000 and accumulated depreciation of P1,500,000. AA received a P1,000,000 cash and a 10%, 5 year, P7,000,000 note receivable every December 31 in equal annual installment of P1,000,000 plus interest starting December 31, 2022. Interest effective on this note when received is at 8%. How much is the interest income in AA's statement of comprehensive income for the period ending December 31, 2022? PV Factor-six decimal places
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 1PA: On January 1, 2018, King Inc. borrowed $150,000 and signed a 5-year, note payable with a 10%...
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On January 1, 2022. AA Company sold an equipment costing P5,000,000 and accumulated depreciation of P1,500,000. AA received a P1,000,000 cash and a 10%, 5 year, P7,000,000 note receivable every December 31 in equal annual installment of P1,000,000 plus interest starting December 31, 2022. Interest effective on this note when received is at 8%.
How much is the interest income in AA's statement of comprehensive income for the period ending December 31, 2022?
PV Factor-six decimal places
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