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with solutions please On January 1, 2020, FJ Co. sold machinery with historical cost of P6,000,000 and accumulated depreciation of P2,500,000 in exchange for a
with solutions please 
On January 1, 2020, FJ Co. sold machinery with historical cost of P6,000,000 and accumulated depreciation of P2,500,000 in exchange for a 3-year, 6%, P3,000,000 note receivable. Principal is due January 1, 2023 but interests are due semi-annually every December 31. The prevailing effective interest rate for this type of note is 10%. How much is the interest income in 2022? O P281,192 P271,784 O P180,000 P291,565 Step by Step Solution
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Management Accounting Information for Decision-Making and Strategy Execution
Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young
6th Edition
137024975, 978-0137024971
