1. Pink Future Corp. sold land with a book value of P3,000,000 to Pink Nation, Inc. on July 1, 2022. Pink Future raised P1,200,000 on the date of sale and the balance of P2,800,000 is collectible on four-year installments of P902,500, consisting of capital and 11% interest on the unpaid balance. The first annual installment is due on July 1, 2023. 
2. 
   
3. What amount related to notes receivable will be classified as current assets on December 31, 2023?

Answer rating: 100% (QA)

To determine the amount related to notes receivable that will be classified as current assets on Dec... View the full answer