Answer : 4) Correct option is 420000
Calculations :
Present Value of Remaining Payment to be received = 1,000,000 * (0.93 + 0.86 + 0.79) = 2,580,000
Balance of Loan Receivable = 3,000,000
Therefore Impairment Loss = 3,000,000 - 2,580,000 = 420000
Answer 5 ) As the option d is missing and as per my calculation :
Interest Income to be recognized is
Accounts Receivable balance in 1 / 1 / 2022 = 3,000,000
Less : Payment of Principal on 1 / 1 / 2022 = (1,000,000)
Less : Impairment Loss = (420000)
Therefore Amount of Receivable = 1,580,000
Interest Income to be recognized = 1,580,000 * 8% = 126400