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How much cash does popeye company received on december

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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%.

Problem 1: How much cash does Popeye Company received on December 31, 20x10?

Reference no: EM132910649

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