Ma.ke a complete solution on the following problems

On December 31, 2020, Precious Company sold an equipment with carrving amount of P2,000,000 and received a noninterest bearing note requiring payment of P500,000 annually for ten years. The first payment is due December 31, 2021. 48. 49. 50. 51. The prevailing rate of interest for this type of note at date of issuance is 12% Present value of 1 at 12% for 10 periods 0.322 Present value of ordinary annuity of 1 at 12% for 10 periods 5.650 On December 31, 2020, what is the carrying amount of the note receivable? a. 5,000,000 c. 1,610,000 b. 2,175,000 d. 2,825,000 What is the gain on sale of equipment to be recognized in 20207 a. 3.000,000 C. 825.000 b. 2.175.000 d 0 What amount of interest income should be recognized for 20217 a. 600,000 C. 319,800 b. 339,000 d. 300,000 What is the carrying amount of the note receivable on December 31, 20217 a. 2.325,000 c. 2,825,000 b. 4.500.000 d 2.664.000