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    chining's Avatar
    chining Posts: 1, Reputation: 1
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    #1

    Aug 13, 2012, 05:43 AM
    non-interest bearing note - collection in lump-sum
    On January 1, 2012, RONNIE sold equipment with a carrying amount of P1,200,000 in exchange for a P1,800,000 non-interest bearing note due January 1, 2016. There was no established exchange price for equipment. The prevailing rate of interest for a note of this type was 8. The present value of 1 at 8% for 5 periods is 0.6806 and for 6 periods is 0.6302.
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    Aug 13, 2012, 03:26 PM
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