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How much is the interest expense

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Point 1: On July 1, 2017, Justine Company borrowed P1,000,000 on a 10% five-year interest bearing note. On December 31, 2017, the fair value of the note is determined to be P975,000. The entity irrevocably elected the fair value option in measuring the note payable.

Question 1: How much is the interest expense for 2017?

Reference no: EM132488657

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