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On April 1, 2020, Alyjan Company discounted with recourse a 9-month, 10% note dated January 1, 2020, with a face amount of P6,000,000. The bank

On April 1, 2020, Alyjan Company discounted with recourse a 9-month, 10% note dated January 1, 2020, with a face amount of P6,000,000. The bank discount rate is 12%. The discounting transaction is ac...

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