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How much is the total amount of receivables

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Question - On January 1, 2018, a company received 2,000,000, 12% notes. The effective interest rate for similar notes is 11%. The principal of the notes is paid in series of 500,000 annually, together with any accrued interest on the outstanding notes, every December 31, starting December 31, 2018.

Required -

1. How much is the total amount of receivables to be included as part of current assets on December 31, 2019?

2. How much is the total amount of receivables to be included as part of non-current assets on December 31, 2019?

Reference no: EM132830424

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