Question: help me please thank you Use the following information for the next two (2) questions: On January 1, 2016. Chris Brown Co. acquired a machine

help me please thank you

Use the following information for the next two (2) questions: On January 1, 2016. Chris Brown Co. acquired a machine from Rihanna Co. In lieu of cash payment, Chris Brown gave Rihanna a 3 year, P1,200,000, non interest bearing note payable due on December 31, 2018. The prevailing interest rate for this type of note is 12%. QUESTIONS: 46) How much is the cost of the machinery acquired on January 1, 2016? A. 1,200,000 B. 946,667 C. 854,160 D. 774,160 47) How much is the interest expense for 2017? A. 144.000 B 144,799 C 113,600 D 102,499

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