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(Please Answer with Complete Solution) 2. On January 1, 20x1, Sunset Co. issues a P5,000,000 noninterest bearing note due on December 31, 20x4. The effective

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2. On January 1, 20x1, Sunset Co. issues a P5,000,000 noninterest bearing note due on December 31, 20x4. The effective interest rate is 15%. How much is the unamortized balance of the discount on notes payable account on January 1, 20x3? a. 652,174 b. 1,219,282 c. 1,712,419 d. 2,141,234

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