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What amount of interest expense should be reported on dec

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Problem 1: For the year ended Dec. 31, 2020, Pha Company paid interest totaling P100,000. The prepaid interest expense is P23,500 and P18,000, respectively, on December 31, 2019 and 2020. The interest payable is P45,000 and P53,500, respectively, on December 31, 2019 and 2020. What amount of interest expense should be reported on December 31, 2020?

Reference no: EM132808299

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