Pls answer and provide some explanation

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MC23 . On June 30, 2020, the XYZ Corporation granted a two-year non-interest bearing P2,000,000 advance to its treasurer Prevailing interest rate is 12%. What is the carrying amount of the receivable from the treasurer on December 31, 2020? a. P2,000,000 b. P1, 594,400 C. P1, 690,064 d. P1, 785,728 MC24 In 2017, GG Company purchased P5,000,000 life insurance policy on its president and chief executive officer, of which GG Company is the beneficiary. Information regarding this policy for 2020 is as follows: Cash surrender value, January 1 P100,000 Annual premium paid on January 1 200,000 Dividends earned on the policy 20,000 The dividends were applied to increase the cash surrender value. If the life insurance expense reported by GG Company in 2020 was P160,000, what is the cash surrender value on December 31? a. P120,000 b . P140,000 C. P160,000 d. P200,000MC25 JJ Company purchased a P2,000,000 ordinary life insurance policy on its president and the company is the named beneficiary. Additional data are available for the year ended December 31, 2020. Cash surrender value, January 1 P 87,000 Cash surrender value, December 31 108,000 Annual premium paid in advance on January 1 40,000 Dividend received on July 1 6,000How much should JJ Company report as life insurance expense for 2020? P40,000 P34,000 P19,000 P13,000MC26 The following information relates to non-current investments placed in trust by XX Company. This investment is in compliance with the requirements of an issue of P4,000,000 bonds by XX. Bond sinking fund, January 1, 2020 P2,250,000 Additional investments to the fund during 2020 450,000 Dividend revenue on equity securities investments 75,000 Interest revenue on debt securities investments 150,000 Administration costs 25,000 What amount should XX Company report in its December 31, 2020 statement of financial position related to its non-current investments for bond sinking fund? a. P2,925,000 P2,900,000 P2,875,000 P2,700,000MC22 The balance of the cash surrender value of life insurance policy maintained on the life of the president increased from P80,000 to P1 15,000 during the year. The company pays an annual insurance premium of P1 10,000 on this policy. Assume that the company has the sole right to cancel this policy, life insurance expense for the year is P 75,000 P 80,000 P1 10,000 P145,000MC27 On April 12, 2020, WY Company adopted a plan to accumulate P5,000,000 by July 1, 2024. WY plans to make four equal annual deposits to a fund that will earn interest at 10% compounded annually. WY made the first deposit on July 1, 2020. Future value factors are as follows: Future value of 1 at 10% for 4 periods 1.46 Future amount of ordinary annuity of 1 at 10% for 4 periods 4.64 Future amount of annuity in advance of 1 at 10% for 4 periods 5.11 How much annual deposit should WY Company make for four years in order to accumulate the desired amount on July 1, 2024? (Rounded) P1,250,000 P1,077,500 P 978,500 P 730,000