How much is the income from government grant on january

Reference no: EM132817667

Problem 1: On January 1, 20x1, BREEZY LIVERLY Co. was granted by the government a 3-year, zerointerest loan of ?4,000,000 payable on December 31, 20x3. Prevailing interest rate for this type of loan is 10%. How much is the income from government grant recognized in 20x1?

a. 3,005,260

b. 400,000

c. 300,526

d. 0

Reference no: EM132817667

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