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Use the following to answer this question: On January 1, 2021, Relay Company received a promissory note from Proton Corporation for goods sold with a
Use the following to answer this question: On January 1, 2021, Relay Company received a promissory note from Proton Corporation for goods sold with a face value of P1,000,000, a 3-year term at 10%, with interest payable at the end of each year. The effective rate was 12%. Table factors for Three periods: 10% 12% Present Value of P1 0.751314801 0.711780248 Present Value of Ordinary Annuity of P1 2.401831268 2.486851991 How much is the carrying value of the notes receivable on Relay's 2022 statement of financial position? OP966,199 OP982,142.90 O P1,000,000 OP951,963.40
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