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Make all the necessary journal entries

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Question - On January 1, 2019, Bronze Company sold goods costing P500,000 and receive in exchange a P1,000,000 non-interest bearing note with a maturity dates as follows:

December 31, 2019 P400,000

December 31, 2020 300,000

December 31, 2021 200,000

December 31, 2022 100,000

The cash price of the inventory at the time of sale was P700,000.

Required - Make all the necessary journal entries for 2019.

Reference no: EM132544841

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