Answer only

.III TM LTE 8319 PM E docs.goog|e.com On January 1, 2020, CPA Co. sold land with carrying amount of P1,800,000 in exchange for a 10month, 10% note with face value of P2,000,000. On May 1, 2020, the entity discounted the note with recourse. The bank discount rate is 12%. The discounting transaction is accounted for as a secured borrowing. On November 1, 2020, the maker dishonored the note receivable. The entity paid the bank the maturity value of the note plus protest fee of P10,000. On December 1, 2020, the entity collected the dishonored note receivable in full plus 12% annual interest on the total amount due. How much cash was collected on December 1? (Round off to two decimal places.) Your answer You're editing your response, Sharing this URL allows FILL OUTA NEW RESPONSE others to also edit your response. .III TM LTE 8319 PM E docsgooglecom CPA Co. factored accounts receivable of P2,500,000 with credit terms of 3/10, n/3O immediately after the shipment of goods to the customer. The factor charges a 5% service charge based on the gross amount of the receivables factored. In addition, the factor withheld 10% of the amount of the receivables factored to cover return and allowances. Ten days after, CPA Co. granted the customer whose accounts were factored a credit allowance of P120,000 for damage in the shipment. Five days after, nal settlement was made with the factor. Assume continuing agreement. On the nal settlement with the factor, how much cash is to be debited? Your answer You're editing your response. Sharing this URL allows FILL OUTA NEW RESPONSE others to also edit your response. all TM LTE 8:19 PM 85% A docs.google.com CPA Bank Co. granted a loan to a borrower on January 1, 2021. The interest on the loan is 10% payable annually starting December 31, 2021. The loan matures in three years on December 31, 2023. Principal amount, P2,500,000; origination cost incurred is P75,000 of which indirect is half of direct. Origination fee charged against the borrower, P170,000. The effective rate on the loan is 12%. How much is the amortization of unearned interest income on December 31, 2021? Your answer CPA Co.'s allowance for doubtful You're editing your response. Sharing this URL allows FILL OUT A NEW others to also edit your RESPONSE response