WACKY Inc. provided repair services to another entity on January $1,2020.$ In exchange for such services, WACKY Inc. received P$100,000$ cash and a promissory note of P$600,000,$ bearing an interest of $(10\%$ and which will mature on December $31,2022.$ The direct costs of providing the services amount to P$220,000.$ On that date, the prevailing rate of interest for a similar note is $12\%.$

Determine:

$1.$ The initial measurement of notes receivable;

$2.$ The net amount to be presented in the statement of comprehensive income, assuming

$($a$)$ The principal is payable at maturity while nominal interest is payable annually.

$($b$)$ The principal is payable annually and nominal interest is payable annually.

$($C$)$ The principal is payable at annually while nominal interest is payable at maturity.

$($d$)$ The principal is payable at maturity and nominal interest is payable at maturity.