1. Rose Company sold a tract of land with carrying amount of P3,000,000 to Goddess Company on July 1, 2020. P 1,200,000 was collected on the date of sale, and the balance of P1,800,000 is collectible in four equal annual installments of P902,500, consisting of principal and 11% interest on the unpaid balance. The first annual installment is due on July 1, 2021. Prepare an amortization table and answer the following:
   1. What amount related to the notes receivable shall be classified as current assets on December 31, 2021?
   2. How much interest income for the year ended December 31, 2021?