On Jan 1, 20X1, ABC Corp received a P450,000 3-year note from a customer. The principal and interest of the note is collectible in 3 equal payments starting on Jan 1, 20X2. Effective interest rate is 10% . How much is unearned interest income at Jan 1, 20X1? PV of P1 at 10% for 3n = .75131 PV of ordinary annuity of P1 at 10% for 3n = 2.48685 338,090 373,028 111,910 76,972
On Jan 1, 20X1, ABC Corp received a P450,000 3-year note from a customer. The principal and interest of the note is collectible in 3 equal payments starting on Jan 1, 20X2. Effective interest rate is 10% . How much is unearned interest income at Jan 1, 20X1? PV of P1 at 10% for 3n = .75131 PV of ordinary annuity of P1 at 10% for 3n = 2.48685 338,090 373,028 111,910 76,972
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 16Q: Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual...
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On Jan 1, 20X1, ABC Corp received a P450,000 3-year note from a customer. The principal and interest of the note is collectible in 3 equal payments starting on Jan 1, 20X2. Effective interest rate is 10% . How much is unearned interest income at Jan 1, 20X1? PV of P1 at 10% for 3n = .75131 PV of ordinary annuity of P1 at 10% for 3n = 2.48685
338,090
373,028
111,910
76,972
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