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# 294 10. On Jan. 1, 20x1, Parya Co. received a 3 -year, $P 900,00$ noninterest-bearing note receivable due as follow P200,000 on Dec. 31, 20×3. The prevailing rate of interest fop this type of note is $10 \%$. How much is the carrying amount the receivable on Dec. $31,20 \times 1$ ? a. 467,354 b. 438,016 c. 376,345 d. 428,346 an installment price of $\mathrm{P} 2,370,470$ and received a three-yeer noninterest-bearing note for the same amount. If paid outright, the cash selling price would have been $P 1,600,000$ How much is the carrying amount of the note on Dec. 31, $20 \times 2$ ? a. $1,824,000$ b. $1,924,320$ c. $2,045,674$ d. $2,079,360$ 12. On January 1, 20x1, Bark Co. sold machinery with historical cost of $\mathrm{P} 5,000,000$ and accumulated depreciation of $\mathrm{P} 1,900,000$ in exchange for a 3-year, 3\%, P3,000,000 note receivable. Principal is due on January 1, 20x4 but interest is due annually every December 31 . The prevailing interest rate for this typeof note is $12 \%$. How much is the carrying amount of the receivable on December $31,20 \times 1$ ? a. $2,159,324$ b. $2,249,324$ c. $2,543,685$ d. $3,000,000$ 13. On January 1, 20x1, Tank Co. sold machinery with historical cost of $\mathrm{P} 2,000,000$ and azcumulated depreciation of $\mathrm{P} 950,000 \mathrm{in}$ exchange for a 3-year, P1,200,000 note receivable. Princip2 and $3 \%$ compounded interest are due on January 1, 20×4. The prevailing interest rate for this type of note is $12 \%$. How mud is the carrying amount of the receivable on initial recognition date? a. $1,311,272$ b. $2,000,000$ C. 933,337 d. 854,136  