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On February 1, 2020, the building owned by ABC Company was used as a security for P950,000 loan availed by the company from a local
On February 1, 2020, the building owned by ABC Company was used as a security for P950,000 loan availed by the company from a local bank. Terms of the loan include an annual interest rate of 12% which is payable every year for five years starting February 1, 2021. How much is the amount of accrued interest at December 31, 2020
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