On April 1, 2028, A Company issued a P9,000,000 non-interest-bearing note due March 31, 2031,...
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Accounting
On April 1, 2028, A Company issued a P9,000,000 non-interest-bearing note due March 31, 2031, for a piece of land with a cash price of P6,949,800. Effective interest rate is 9%. Determine the interest expense for the year ended December 31, 2028
Round off final answer to the nearest peso.
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