interest and a 1-year term to maturity. Interest will be withdrawn monthly (disregard Problem #5 Accrual of Interest Revenue tax effects). Melinda Almazan, an angel investor, decided to invest P1,200,000 excess cash in a certificate of deposit on April 1, 2019. The certificate carried an 8% annual rate of 1 Required: 1. What amount of income will be recognized for the year ending Dec. 31, 2019? 2. What is the effect of the adjusting entry on the accounting equation? 3. What amount of cash will be collected for interest revenue in 2019? 4. What is the amount of interest receivable as of Dec. 31, 2019? 5. What amount of cash will be collected for interest revenue in 2020? 6. What amount of interest revenue will be recognized in 2020? 7. What is the amount of interest receivable as of Dec. 31, 2020