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On January 1, 2021, South Company acquired a building for P5,000,000. The entity paid P500,000 down and signed a non-interest-bearing note for the balance payable in 3 equal installments every December 31 of each year. The prevailing interest rate for a note of this type is 12%. The present value of an ordinary annuity of 1 for three periods is 2.4018. Complete the table below: Jan 1, 2021 Dec 31, 2021 Dec 31, 2022 Dec 31, 2023 STATEMENT OF FINANCIAL POSITION Note payable Discount on note payable Net STATEMENT OF COMPREHENSIVE INCOME Interest expense