Intermediate Accounting

Question 18 1 pts Refer to previous problem. Twice Incorporated sold a building which is no longer used in its operation on August 1, 2020. The building has estimated useful life of 5 years with an original cost of P15,000,000 and carrying value of P9,500,000 on date of sale. Twice received a P6,000,000, 3-year noninterest bearing note to be collected in equal annual installment of P2,000,000 every July 31 of each year starting 2021. There is no available fair value for the building but on August 1, 2020, interest effective was at 6%. On December 31, 2021, interest effective was increase to 7%. How much is the current portion of the note receivable reported in its December 31, 2021 statement of financial position? O P1,779,993 P1,824,493 OP1,886.792 O P1.933,962