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Prepare the amortization table

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Reference no: EM132901741

Problem - Noninterest-bearing note - lump sum - On January 1, 20x1, Candle Co. received a 3-year, noninterest bearing note of P133,100 in exchange for land with carrying amount of P100,000. The note is due on December 31, 20x3. The effective interest rate is 10%.

Requirements -

a. Prepare the amortization table.

b. Provide all the necessary journal entries.

Reference no: EM132901741

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