On January 1, 2021, Nicaragua Company purchased a machine from Argentina Company amounted to P1,000,000. Argentina issued a noninterest-bearing note with an effective interest rate of 15% as payment....

On January 1, 2021, Nicaragua Company purchased a machine from Argentina Company amounted to P1,000,000. Argentina issued a noninterest-bearing note with an effective interest rate of 15% as payment. It is payable in 5 equal payments beginning December 31, 2021. The company uses 2 decimal places for PVF. How much is the current portion of the note payable on December 31, 2021?