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How much interest did the company collect

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Question 1: Nitendo Co. reported a balance of P14,300 in its cash account at the end of the month. There were P12,000 deposits in transit and P11,500 of checks outstanding. The bank statement showed a balance of P15,000. Service charge of P600, and the collection of a note plus interest. The note had a face value of P1500. How much interest did the company collect?

Reference no: EM132635104

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