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On Jan 1, 20X1, ABC Co sold land with a fair value of P110,000 and received a non interest bearing note of P150,000 due in

On Jan 1, 20X1, ABC Co sold land with a fair value of P110,000 and received a non interest bearing note of P150,000 due in 3 years. Effective rate is 10%. Interest is collectible every Jan 1 of the following year. How much is the notes receivable as presented in the balance sheet at Dec 31, 20X1?

82,645

110,000

112,697

150,000

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