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What amount should be reported as accrued interest

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Question - On December 1, 2021, CPA Co. gave BSA Co. a P2,000,000, 12% loan. CPA Co. paid proceeds of P1,940,000 after the deduction of a P60,000 nonrefundable loan origination fee. Principal and interest are due in sixty monthly installments of P44,500, beginning January 1, 2022. What amount should be reported as accrued interest receivable on December 31, 2021?

Reference no: EM132925591

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