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1-3. what are the correct answers and how do i solve the following problems? thank you! PROBLEM I On December 1. 2020, Fanny Co. gave

1-3. what are the correct answers and how do i solve the following problems? thank you!

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PROBLEM I On December 1. 2020, Fanny Co. gave Estes Corp. a P400,000, 12% loan. Estes received proceeds of P388300 after the deduction of a P12,000 nonrefundable loan origination fee. Principal and interest are due in 60 monthly installments of P8300, beginning January 1, 2021. The repayments yield effective interest rate of 12% at a present value of P400300 and 13.4% at a present value of P388,000. 1. What amount of accrued interest receivable should Fanny include in its December 31, 2020, statement of financial position? 2. How much is the carrying amount of the loan receivable on December 31, 2020? [Round-off computations to the nearest peso.) PROBLEM 2 Selena, Inc. borrowed from Karina Bank under a 10year loan in the amount of P300.000 with a stated interest rate of 6%. Payments are due monthly, and computed to be P3330. Karina Bank incurs P8,000 of direct loan origination costs and P4300 indirect loan origination costs. In addition. Karina Bank charges Selena, Inc. 4% nonrefundable loan origination fee. At what amount should the loan receivable be initially recognized by Karina Bank

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