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What is the balance of the unearned interest income on dec

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On January 1, 2020, BDO loaned to ACB Company, P1,000,000 with 10% interest and a term of five years. Direct origination costs incurred amounted to P27,500. Origination fees charged to ACB was P100,000. The effective rate is 12%. (Round-off answers to whole peso)

Problem 1: How much interest income is recorded in 2020?

Problem 2: What is the balance of the unearned interest income on December 31, 2021?

Reference no: EM132907545

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