1. On January 2, 2020, Magsaysay Company sold equipment with a carrying amount of P400,000 in exchange for a P600,000 4-year non-interest-bearing note due January 2, 2024. There was no established exchange price for the equipment. The prevailing rate of interest for a note of this type at January 2, 2020 was 10%. What is the carrying value of the note receivable as of December 31, 2022 Statement of Financial Position? . 2. Sandy Company owns 15,000 of the 100,000 ordinary shares of X Corporation. The investment is accounted as Financial Assets Through Profit or Loss and has a carrying value of P3,300,000. X Corporation declared a 10% stock dividend but gave the investors the option to receive P210 per whole stock of dividend. How much cash will Sandy receive? In your solutions, show the journal entry to record the dividends if Sandy opted to receive cash.