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How much is the profit from the sale

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Question - On January 1, 2022, Charlie Inc. sold goods to Isaac Corp. for P4,000,000 represented by a non-interest- bearing note. The note is payable in 4 equal annual installments beginning on January 1, 2023. If the cost of the goods sold is P2,800,000, how much is the profit from the sale if the prevailing interest rate is 10%?

Reference no: EM133186733

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