On April 1, 2020, BMG Company sold equipment with a carrying amount of P480,000 in exchange for a P600, 000, non-Interest bearing note due April 1, 2023. There was no established exchange price for the equipment. The prevailing rate of interest for the note of this type at April 1, 2020 was 10%. The present value of 1 at 10% for three periods is 0.7513. What is the carrying value of the notes recevable as of December 31, 2020 statement of financial position? Your