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How much is the revenue to be recognized on this contract

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Question - On July 1, 2021, Emerald Corporation sold a set of washing machine and a dryer for a total contract price of P200,000.  The stand alone selling prices of the washing machine and the dryer if sold separately are: 150,000 and 70,000, respectively. A 20% down payment was made and the balance is payable in six (6)  equal installment payments of P28,564, inclusive of 2% interest, payable quarterly starting September 30 and December 31, 2021. How much is the revenue to be recognized on this contract on July 1, 2021?

a. 189,362

b. 211,384

c. 200,000

d. 220,000

Reference no: EM133043838

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