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On October 31, 2020, the bank approved the bank loan of XYZ Enterprises, P200,000. The principal amount and interest of 12% per annum is to

On October 31, 2020, the bank approved the bank loan of XYZ Enterprises, P200,000. The principal amount and interest of 12% per annum is to be paid on October 31, 2021.

How much is the accrued interest on December 31, 2020?

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