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How much is the loss on note receivable discounting

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Reference no: EM132894366

Question 1: ABC Company has the following information during the year: A promissory note issued by a customer with a face amount of Php200,000. The term of the note is 120 days with an annual interest of Php12%. The note was discounted at 15% when the remaining term is 45 days. How much is the loss on note receivable discounting?

Option 1: 900

Option 2: 3,900

Option 3: 4,100

Option 4: 5,000.

Reference no: EM132894366

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