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Make necessary entries for years relative to foregoing

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On April 1, 2020, the KFC Delivery Service issued a P9,000,000 non-interest bearing note due March 31, 2023 for a piece of land with a cash price of P6,949,800.

Problem 1: Prepare the necessary entries for years 2020 through 2023 relative to the foregoing, including any adjustments at year end, December 31.

Reference no: EM132972255

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