On January 1, 2021, PFY Inc. issued a 3-year, 1,000,000 noninterest-bearing note. The actual cash received is equivalent to the prevailing interest rate of 12%. What is the non-current portion of the note as of December 31, 2021 that should be presented in the balance sheet?

Answer rating: 100% (QA)

AnsInterest rate12 Cash recieved as on 0101201410... View the full answer