The company bought a delivery car on an instalment basis. A down- payment of P100,000 was paid

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The company bought a delivery car on an instalment basis. A down- payment of P100,000 was paid and the balance payable in two equal annual installments of P200,000 through a non-interest- bearing note. The imputed rate was 12%.

WHAT IF: The note is interest-bearing

Determine the amount of PPE if interest bearing and non-interest bearing;

Journal entry for both

Related Book For answer-question

Accounting Principles Part 3

ISBN: 978-1118306802

6th Canadian edition Volume 1

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow

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Posted Date: Aug 13, 2020 09:02 AM

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The company bought a delivery car on an instalment basis. A down- payment of P100,000 was paid

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Since PV Factor tables are not given PV Values have be... View the full answer

Accounting Principles Part 3

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