Question: ABC Company has a note that bears 8% interest and is to be repaid in 3 equal annual installments of 250,000 every December 31 plus

ABC Company has a note that bears 8% interest and is to be repaid in 3 equal annual installments of 250,000 every December 31 plus interest on outstanding balance. The first payment is due on December 31,2019 and the prevailing interest rate for note of this type is 12%.

How much in the carrying value of the note shall be classified as non-current asset as of December 31,2019 on the Statement of Financial Position?

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