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On July 1,2020, Justine Company borrowed P1,000,000 on a 10% five-year interest-bearing note. On December 31, 2020, the fair value of the note is determined

On July 1,2020, Justine Company borrowed P1,000,000 on a 10% five-year interest-bearing note. On December 31, 2020, the fair value of the note is determined to be P975,000. The entity irre...

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