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On January 1, 2020, ABC Company issued a 3-year P500,000 face value note for a piece of equipment. The note bears a compounded interest of

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On January 1, 2020, ABC Company issued a 3-year P500,000 face value note for a piece of equipment. The note bears a compounded interest of 10% per year. What amount of interest expense shall the company recognize on December 31, 2021? OP105,000 O P55,000 OP50,000 P60,000

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