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On September 1, 2021, Trinoma Entertainment borrowed P24,0000,000 cash to fund a new Fun Park. The loan was granted by Solid Bank under a noncommitted
On September 1, 2021, Trinoma Entertainment borrowed P24,0000,000 cash to fund a new Fun Park. The loan was granted by Solid Bank under a noncommitted short-term line of credit arrangement. Trinoma issued a 9-month, 12% promissory note. Interest was payable at maturity. Complete the table below. Sept 1, 2021 Dec 31, 2021 Dec 31, 2022 STATEMENT OF FINANCIAL POSITION Note payable Discount on note payable Net Interest payable STATEMENT OF COMPREHENSIVE INCOME Interest expense
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