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BMG Co. accepted from a customer a P400,000, 90-day, 12% Interest-bearing note dated March 31, 2020. On April 30, 2020, BMG discounted the note at

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BMG Co. accepted from a customer a P400,000, 90-day, 12% Interest-bearing note dated March 31, 2020. On April 30, 2020, BMG discounted the note at ONE Bank at 15%. However, the proceeds were not received until May 1, 2020. If the discounting is treated as borrowings, what total amount of receivable due from the maker of the note should BMG report in Its April 30, 2020 statement of financial position? Your

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