How much cash does popeye company received

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Reference no: EM132950345

Question: On December 31, 20x9, Popeye Corporation sold equipment to Sandra Company for P 100,000. Popeye accepted a 10% note receivable for the entire sales price. This note is payable in two equal installments of P 50,000 plus accrued interest on December 31, 20x10 and December 31, 20x11. The prevailing market rate for this type of note is 12%.

How much cash does Popeye Company received on December 31, 20x10?

Do not round the present value factors but round off your final answer to two decimal places.

Reference no: EM132950345

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