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help me please thank you 23) On the first day of each month, Denise Company received from a customer an escrow deposit of P500,000 for
help me please thank you
23) On the first day of each month, Denise Company received from a customer an escrow deposit of P500,000 for real estate tax. The entity recorded the P500,000 in escrow account. The customer's real estate tax is P5,600,000, payable in equal installments of the first day of each calendar quarter. On January 1, 2019, the balance of the escrow account was P600,000. On September 30, 2019, what amount should be reported as escrow liability? A. B. 2,300,000 1,700,000 C. 900,000 D. 300,000 Step by Step Solution
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