Due to adverse economic circumstances and Second Problem 9-17 (IAA) poor a restructuring of a 996 P6,000,000 note payable to on the note on January 1, 2020. to P5,000,000 and extended the maturity to...

Due to adverse economic circumstances and<br>Second<br>Problem 9-17 (IAA)<br>poor<br>a restructuring of a 996 P6,000,000 note payable to<br>on the note on January 1, 2020.<br>to P5,000,000 and extended the maturity to three year<br>December 31, 2022.<br>on<br>every December 31.<br>1<br>periods is 2.53.<br>new<br>on<br>January 1, 2020?<br>a. 6,000,000<br>b. 5,000,000<br>c. 5,494,500<br>d. 3,850,000<br>2. What is the gain on modification of debt to be recognized<br>for 2020?<br>500,000<br>b. 350,000<br>505,500<br>d.<br>a.<br>с.<br>3. What is the interest expense for 2020 as a result of the<br>modification?<br>a. 650,000<br>b. 450,000<br>c. 494,505<br>d. 540,000<br>326<br>

Extracted text: Due to adverse economic circumstances and Second Problem 9-17 (IAA) poor a restructuring of a 996 P6,000,000 note payable to on the note on January 1, 2020. to P5,000,000 and extended the maturity to three year December 31, 2022. on every December 31. 1 periods is 2.53. new on January 1, 2020? a. 6,000,000 b. 5,000,000 c. 5,494,500 d. 3,850,000 2. What is the gain on modification of debt to be recognized for 2020? 500,000 b. 350,000 505,500 d. a. с. 3. What is the interest expense for 2020 as a result of the modification? a. 650,000 b. 450,000 c. 494,505 d. 540,000 326

Jun 10, 2022

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Due to adverse economic circumstances and Second Problem 9-17 (IAA) poor a restructuring of a 996 P6,000,000 note payable to on the note on January 1, 2020. to P5,000,000 and extended the maturity to...

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