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What amount of loss on discounting should bruno recognize

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Problem 1: Bruno received from a customer a one-year, P375,000 note bearing note bearing annual interest of 8%. After holding the note for six months, Bruno discounted the note at Super Bank at an effective interest rate of 10%. If the discounting is treated as a conditional sale, what amount of loss on discounting should Bruno recognize?

A) 20,250
B) Zero
C) 5,250
D) 9,750

Reference no: EM132788343

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