Question
Junnel is indebted to Denver. Due to his inability to pay the debt, he was asked to clean the piggery of the latter for
Junnel is indebted to Denver. Due to his inability to pay the debt, he was asked to clean the piggery of the latter for three months. Thereafter, Denver gave him P5,000 cash and condoned the debt amounting to P10,000. How much income should be declared by Junnel?
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Fundamentals Of Corporate Finance
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford
5th Edition
0135811600, 978-0135811603
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