Chapter 3 - Investments in Debt Securities and Other Non-Current Financial Assets MC23 On June 30, 2020, the XYZ Corporation granted a two-year, non-interest bearing P2,000,000 advance to its treasurer. Prevailing interest rate is 12%. What is the carrying amount of the receivable from the treasurer on December 31, 2020? a. P2,000,000 b. P1, 594,400 C. P1,690,064 d. P1,785,728 MC24 In 2017, GG Company purchased P5,000,000 life insurance policy on its president and chief executive officer, of which GG Company is the beneficiary. Information regarding this policy for 2020 is as follows