On January 1, 2020, Company A issued 18% bearing note payable on December 31, 2024, P 5,000,000. The market interest rate for this type of transaction is 10%.    
 

Required: (if possible, include an amortization table)

1. Present Value/Carrying Value Beginning

2. Carrying Value, December 31, 2022.

Answer rating: 100% (QA)

To calculate the present value of the note payable we can use the formula PV FV 1 in Where FV future ... View the full answer