On January 1, 2014, PC purchased a used cement truck from EC The carrying value of the truck on EC's books was P12,500 PC paid cash of P2,000 and gave a 2 year note that required semi annual payments of P4,000 each payable at the end of each semi annual period (the market rate of interest was 12 p...

On January 1, 2014, PC purchased a used cement truck from EC. The carrying value of...

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Financial Reporting and Analysis

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