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Question 45 2 pts On December 31,2020, Elisha Company sold a machine in exchange for a noninterest- bearing note requiring ten annual payments of P400,000. The first payment was made on December 31,2020. The market interest rate for similar notes at date of issuance was 8%. Period Present value of 1 at 8% Present value of ordinary annuity of 1 at 8% 9 0.50 6.25 10 0.46 6.71 On December 31,2020, what amount should be reported as note receivable? Next >

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