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06-06-2023
Business

contestada

A 180-day promissory note was issued by FDNACCT Co. on November 1, 2021
in exchange of goods bought from ACCT Company in the amount of P600,000.
The note has an interest rate of 8%. How much Interest Income should be
recorded for this particular note in the books of ACCT Company for the year
ended December 31. 2021?

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