On January 1, 200A, ABC rendered services to XYZ. There is no established selling price for the services yet. ABC received a non-interest bearing P500,000 5-year promissory note from XYZ to be paid in full on December 200E. The market interest rate in the market for instrument with similar characteristics of the instrument held is 9%. At the end of December 200B, the carrying value of the note receivable is
On January 1, 200A, ABC rendered services to XYZ. There is no established selling price for the services yet. ABC received a non-interest bearing P500,000 5-year promissory note from XYZ to be paid in full on December 200E. The market interest rate in the market for instrument with similar characteristics of the instrument held is 9%. At the end of December 200B, the carrying value of the note receivable is
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
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 10MC: On January 1, 2019, Park Company accepted a 36,000, non-interest-bearing, 3-year note from a major...
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On January 1, 200A, ABC rendered services to XYZ. There is no established selling price for the services yet. ABC received a non-interest bearing P500,000 5-year promissory note from XYZ to be paid in full on December 200E. The market interest rate in the market for instrument with similar characteristics of the instrument held is 9%.
At the end of December 200B, the carrying value of the note receivable is
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