Question: On Jan. 1, 20x1, Call Co. received a 10% note with face amount of P1,200,000. Both principal and compounded interests are due on January 1,

On Jan. 1, 20x1, Call Co. received a 10% note with face amount of P1,200,000. Both principal and compounded interests are due on January 1, 20x4. 


How much interest receivable is reported on the December 31, 20x2 statement of financial position?

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