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What the interest income for december

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Reference no: EM133170843

Question - Cute Company owned a land costing P800, 000 and Last January 1, 2020 sold it for 3 year note for P1,000,000 plus interest of 12% compounded annually.

Required -

1. What the interest income for December 31, 2021.

2. What the amount collected on the December 31, 2022.

3. What the present value of the land at January 1, 2020.

Reference no: EM133170843

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