1. On April 4, 2021, LASTNATOBEYBE, Inc. sold goods on account to a customer for P1,000,000, terms were 2/10, n/30. The company factored the accounts receivable on April 4 to a financial institution on April 14, 2021. The factor charged 8% and withheld 15% of the receivables factored. How much is the proceeds from factoring?

2. DE LA CRUZ Company received a 10%,180 day note from its customer on April 1, 2021. The note has a face value of P500,000. The company endorsed the note, without recourse, to a bank on May 31, 2021. The bank discounted the note at 12%. The debit to loss on discounting amounts at discount date amounted to?

3.FIVESIX Company, a lending institution lent P2,000,000 at 8.0000% per annum, to LAMANEH, Inc. The loan is payable after 5 years. The company incurred direct origination costs of P200,000 and indirect origination costs of P50,000. The company also charged origination fees to the borrower amounting to P295,000. The implicit interest rate on this loan is 9.2284% How much is the initial carrying value of the loan receivable?

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The story continues... FIVE SIX COMPANY: On December 31, 2021. FIVESIX estimates that the 12-month probability of default is 5% and it expects that the 95% of the principal will be collected. On December 31, 2023. FIVESIX determined that there was a significant decline the credit quality of LAMANEH. FIVESIX estimates that there is a 30% probability of default and that 80% of the principal will be collected. How much is the impairment loss as of December 31, 2023?