Credulous Company purchased equipment on January 1, 2012 under the following terms: a. P200, 000 downpayment b. Five annual payments of P100, 000, the first installment note to be paid on December 31, 2012. The same equipment was available at a cash price of P580,000. Required: How much is the cost of equipment B. On January 1, 2012, Enrich

Sep 8, 2023

 

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Credulous Company purchased equipment on January 1, 2012 under the following terms: a. P200, 000 downpayment b. Five annual payments of P100, 000, the first installment note to be paid on December 31, 2012. The same equipment was available at a cash price of P580,000. Required: How much is the cost of equipment B. On January 1, 2012, Enrich
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