Cancer Co. owned a track of land costing P1,600,000 and sold the land for P2,000,000. The entity received a 3-year note for P2,000,000 plus interest of 6% compounded annually. How much interest income...

How much interest income should be recognized in the second year?

Cancer Co. owned a track of land costing P1,600,000 and sold the land for<br>P2,000,000. The entity received a 3-year note for P2,000,000 plus interest<br>of 6% compounded annually. How much interest income should be<br>recognized in the second year? *<br>Your answer<br>

Extracted text: Cancer Co. owned a track of land costing P1,600,000 and sold the land for P2,000,000. The entity received a 3-year note for P2,000,000 plus interest of 6% compounded annually. How much interest income should be recognized in the second year? * Your answer

Jun 10, 2022

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Cancer Co. owned a track of land costing P1,600,000 and sold the land for P2,000,000. The entity received a 3-year note for P2,000,000 plus interest of 6% compounded annually. How much interest income...

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