Question
On March 1, 2011, Y GBF Co sold equipment with historical cost of P3,000,000 and accumulated depreciation of P900,000 in exchange for a 3-year, P2,
On March 1, 2011, Y GBF Co sold equipment with historical cost of P3,000,000 and accumulated depreciation of P900,000 in exchange for a 3-year, P2, 100,000 noninterest- bearing note receivable due in equal semi-annual payments every September 1 and March 1 starting on September 1, 2011. The prevailing rate of interest for this type of note is 10% How much is the interest income in 2021?
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Algebra and Trigonometry
Authors: Ron Larson
10th edition
9781337514255, 1337271179, 133751425X, 978-1337271172
