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On December 1, 2019, Marcy Lou raised emergency funds by issuing an 18% note for P500,000. The note has a term of 4 months, and the agreement states that Marcy will pay the principal in full on the maturity date. The interest, however, will be paid at the end of every month.
Problem 1: How much is the interest expense to be recognized on this note for the year 2020?
Problem 2: How much interest expense was paid by Marcy for this note for the year 2020?
Problem 3: How much total cash was paid by Marcy on the maturity date?
the jung corporations budget calls for the following productionquarter 1 45000 unitsquarter 2 38000 unitsquarter 3
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