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What is the updated balance of the notes payable on december

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Reference no: EM132920833

Question - On January 1, 2020, Richard Perez borrowed P225,000 payable in five years. The prevailing interest rate is 10%.

a. Interest is payable annually every Dec 31. The loans was interest bearing. What is the updated balance of the notes payable on December 31, 2020?

b. Interest is accumulated until Dec 31, 2020. The loans was interest bearing. What is the updated balance of the notes payable on December 31, 2020?

c. Interest is accumulated until December 31, 2020. The loans was interest bearing. What is the interest expense to be recognized on December 31, 2021?

d. Richard will pay the interest and principal at the end of the 5th year. What is the present value of the notes payable.

e. Richard will pay the interest and principal at the end of the 5th year. What is the amortized cost at the end of December 31, 2021

f. Richard will pay 45,000 pesos every year starting December 31, 2020. What is the present value of the notes.

g. Richard will pay 45,000 pesos every year starting January 1, 2020. What is the present value of the notes from the inception date?

h. Richard will pay 45,000 pesos every year starting January 1, 2020. What is the present value of the notes on January 1, 2020.

i. Richard will pay 45,000 pesos every year starting January 1, 2020. What is the interest expense recognized on December 31, 2020?

j. Richard will pay 45,000 pesos every year starting December 31, 2023. What is the present value of the notes?

Reference no: EM132920833

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