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What is the Mortgage Payable-remaining portion

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Reference no: EM133127912

Question - On September 30, 2021, the business owner acquired a bank loan amounting to P900,000 with a term of 3 years. The first monthly installment started on October 30, 2021. Assuming the business year ended on December 31, 2021, compute for the following amounts that would appear in the balance sheet:

What is the Mortgage Payable-current portion?

What is the Mortgage Payable-remaining portion?

Reference no: EM133127912

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