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Bibimbap Company received from a customer a on-year, P500,000 note bearing annual interest of 8%. After holding the note for four months, Bibimbap discounted the note, without recourse, at Bank of Seoul at a discount rate of 10%. At the date of discounting, Bibimbap would receive cash of * OP540,000 OP50,000 OP504,000 OP522,000