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Whatever It Takes! Company provided you're the following sales and service transactions as of December 31, 2023: . On January 1, 2022, Whatever It Takes! Sold a machinery for P5,000,000 to Thanos Company. Thanos Company paid P500,ooo down and singed a non-interest-bearing note for the balance which is payable in 3 equal annual installments every December 31 of each year. The carrying value of the Machinery is P5,000,000. A notes receivable of P1,000,000 with a coupon rate of 12* from, Maw Company was received form sale of goods in the normal course of business. The note is dated May 1, 2023 and is due on May 1, 2026. Interest are collectible every December 31. . A three-year note of Pzoo,ooo with a contract rate of 10* received from Dark Order Corporation dated January 1, 2023 was accepted in exchange for consultation services rendered. The note is considered to have a prevailing market rate of 12%. Interest are collectible every December 31. The prevailing rate of interest for the above type of notes was 12%. Present value of Pi at 12* for three periods is o.712. the present value of an ordinary annuity of 1 for three periods is 2.402. 36) How much is the gain or loss on sale of Machinery? A. None B. 897,000 C. 500,000 D. 1,397,000 37) How much is the interest income for the year 2023 related to Notes receivable from Maw Corporation? A. 56,960 B. 120,000 C. 85,440 D. 80,000 38) How much is the interest income for the year 2023 related to Notes receivable from Dark Order Corporation? A. None B. 20,000 C. 22,853 D. 17,088 39) How much is the total amortized cost of notes receivable as of December 31, 2023? A. 2,532,896 B. 3,728,653 C. 2,539,603 D. 2,552,896