Question: Provide a journal entries, amortization table and supporting computations. On January 1, 2020, Clein Co. received a 3-year, 4%, P1,500,000 note in exchange for a

Provide a journal entries, amortization table and supporting computations.

On January 1, 2020, Clein Co. received a 3-year, 4%, P1,500,000 note

On January 1, 2020, Clein Co. received a 3-year, 4%, P1,500,000 note in exchange for a piece of land. Principal is due on December 31, 2022 and interest is due annually. Effective interest rate is 11%.

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To record the initial transaction on January 1 2020 Debit Note Receivable P1500000 Credit Land P1500... View full answer

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