ABC sold a machinery to DEF on December 31, 2023. The machinery was a listed at a price of P 10,000,000. Trade discount of 20% was given to DEF. Determine the net receivable to be recognized on December 31, 2023, under the following circumstances: 1. DEF opted to purchase the machinery on account to be paid in 3 months. If paid now, ABC offers additional discount of 2%. 2. DEF opted to issue a long-term non-interest-bearing note, after giving a downpayment of P 1,000,000. The note states that it will be paid on December 31, 2027. The prevailing interest rate for this type of note is 16%. 3. DEF opted to issue a 20% interest-bearing note. The note stipulates that P 500,000 will be paid every six months, the first installment being on December 31, 2023. The prevailing interest rate for a similar note is 18%. 4. Using the information on number 3, by the beginning of 2026, it was determined that DEF is experiencing financial difficulty due to changes in national economic conditions that resulted to adverse changes in the industry. Since ABC is generous, he allowed that the balance be reduced to P 5 million to be paid in 10 annual installments, payable every end of the year. The interest was also reduced to 10%. The prevailing interest for a similar transaction is 20%. What is the receivable to recognized on December 31, 2026? 5. Using the date in 3 and 4, what is the impairment loss to be recognized on the date of restructuring?