question archive january 1 of the current year abc company issued a interest bearing note payable with a face amount of P10,000
january 1 of the current year abc company issued a interest bearing note payable with a face amount of P10,000
Subject:AccountingPrice: Bought3
january 1 of the current year abc company issued a interest bearing note payable with a face amount of P10,000. the compound interest rate attached on the note is 5%. the interest rate is equal to the rate in the market. the interest and principal will be paid after 5 years. at the end of the second year, what is the total liabilities from the said notes payable
