What amount should be reported as current asset for interest

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Reference no: EM133922397

Problem

ABC Company has an 8% note receivable dated June 30,2016, in the original amount of P1,500,00. Payments of P500,000 in principal, plus accrued,interest are due annually on July 1,.2017, 2018 and 2019. Get the instant assignment help. In the June 30,2018 statement of financial position, what amount should be reported as a current asset for interest on the note receivable?

Reference no: EM133922397

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