1. Pink Future Corp. sold land with a book value of P3,000,000 to Pink Nation, Inc. on July 1, 2022. Pink Future raised P1,200,000 on the date of sale and the balance of P2,800,000 is collectible on four-year installments of P902,500, consisting of capital and 11% interest on the unpaid balance. The first annual installment is due on July 1, 2023. 
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3. What amount related to notes receivable will be classified as current assets on December 31, 2023?