Dilraba Co. sold equipment in exchange for a P750,000, non-interest bearing note receivable in 5 equal annual installments starting December 31, 2021. The cash selling price for this equipment is P675,000. (usefraction method)How much in the unearned income on December 31, 2023?What is the denominator of the fraction used to distribute the unearned interest?( PreviousContinue >

Unearned revenue is the revenue that has not been earned by the company but the payment for the same…

Dilraba Co. sold equipment in exchange for a P750,000, non-interest bearing note receivable in 5 equal annual installments starting December 31, 2021. The cash selling price for this equipment is P675,000.( fraction method) How much in the unearned income on December 31, 2023?

Dilraba Co. sold equipment in exchange for a P750,000, non-interest bearing note receivable in 5 equal annual installments starting December 31, 2021. The cash selling price for this equipment is P675,000.( fraction method) How much in the unearned income on December 31, 2023?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable

Section: Chapter Questions

Problem 12P: Hamlet Corporation purchases computer equipment at a price of 100,000 on January 1, 2019, paying...

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Dilraba Co. sold equipment in exchange for a P750,000, non-interest bearing note receivable in 5 equal annual installments starting December 31, 2021. The cash selling price for this equipment is P675,000. (use
fraction method)
How much in the unearned income on December 31, 2023?
What is the denominator of the fraction used to distribute the unearned interest?
( Previous
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