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On July 1, 20X1, ABC Corp received a P450,000 10% 3-year note from a customer. The principal and interest of the note is collectible in 3 equal payments every June 30, starting June 30, 20X2. How much is interest income at Dec 31, 20X2? 22,500 45,000 135,000 0

On July 1, 20X1, ABC Corp received a P450,000 10% 3-year note from a customer. The principal and interest of the note is collectible in 3 equal payments every June 30, starting June 30, 20X2. How much is interest income at Dec 31, 20X2? 22,500 45,000 135,000 0

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 6MC: On July 1, a company sells 8-year $250,000 bonds with a stated interest rate of 6%. If interest...
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On July 1, 20X1, ABC Corp received a P450,000 10% 3-year note from a customer. The principal and interest of the note is collectible in 3 equal payments every June 30, starting June 30, 20X2. How much is interest income at Dec 31, 20X2?
 
22,500
45,000
135,000
0
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