16. On January 1, 200A, ABC rendered services to XYZ. There is no established selling price for the services yet. ABC received a non-interest bearing P500,000 5-year promissory note from XYZ to be paid in full on December 200E. The market interest rate in the market for instrument with similar characteristics of the instrument held is 9%. At the end of December 200A, how much is the amount of income ABC should reflect in its statement of financial performance?