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Urdaneta Company accepted from a customer P5,000,000, 120-day, 12% note dated August 31, 2019. On September 30, 2019, Urdaneta discounted the note at the National
Urdaneta Company accepted from a customer P5,000,000, 120-day, 12% note dated August 31, 2019. On September 30, 2019, Urdaneta discounted the note at the National Bank. However, the proceeds were not received until October 1, 2019. In the September 30, 2019 balance sheet, the amount receivable from the bank includes accrued interest revenue of
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