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2. Appari Bank granted a loan to a borrower on January 1, 2019. The interest rate on the loan is 10% payable annually starting December 31, 2019. The loan matures in five years on December 31, 2023. Principal amount 4,000,000 Direct origination cost 61,500 Origination fee received from borrower 350,000 The effective rate on the loan after considering the direct origination cost and origination fee received is 12%. What is the carrying value of the loan receivable on January 1, 2019? a. 4,000,000 c. 4,411,500 b. 4,650,000 d. 3,711,500 The inventory on hand at December 31, 2019 for Fair Company is valued at a cost of P950,000. The following items were not included in this inventory amount: Item 1: Purchased goods in transit, shipped FOB destination, invoice price P30,000 which includes freight charge of P1,500. Item 2: Goods held on consignment by Fair Company at a sales price of P28,000, including sales commission of 20% of the sales price. Item 3: Goods sold to Grace Company, under terms FOB destination, invoiced for P18,500 which includes P1,000 freight charge to deliver the goods. Goods are in transit. The company's selling price is 140% of cost. Item 4: Purchased goods in transit, terms FOB shipping point, invoice price P50,000, freight cost, P2,500. Item 5: Goods out on consignment to Manila Company, sales price P35,000, shipping cost of P2,000. 3. What is the adjusted cost of the inventory on December 31, 2019 a. 1,042,000 b. 1,043,000 c. 1,040,000 d. 1,073,500