The notes receivable account of Caimito, Inc. consisted of the following: 1. 60-day note of P10,000 dated May 15 with a 9% interest rate, discounted at the bank on June 8 at 12%. 2. 120-day note of P100,000 (face amount) dated October 1 with no stated interest rate and a market rate of 9% interest, discounted at the bank on November 30 at 12%. This note was received from the sale of equipment. The proceeds from discounting of the 60-day note amount to

CHOICES:

P10,000

P10,059

P10,150

P10,028