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On January 1,2021, ABC Corporation purchased a land for P 15,000,000. In exchange of the land, ABC issued a non-interest bearing note which is due
On January 1,2021, ABC Corporation purchased a land for P 15,000,000. In exchange of the land, ABC issued a non-interest bearing note which is due on December 31,2025.
How much should be presented as non-current liabilities in the notes payable balance as of December 31,2021 in the statement of financial position?
How much should be presented as non-current liabilities in the notes payable balance as of December 31,2021 in the statement of financial position?
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Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
17th Edition
032459237X, 978-0324592375
