Accrual of interest income?

Reynaldo San Mateo, an investor, decided to invest P1,200,000 excess cash in a certificate of deposit on April 1, 2020. The certificate carried an 5% annual rate of interest and a 1-year term to maturity. Interest will be withdrawn monthly (disregard tax effects).

Required:

1. What amount of income will be recognized for the year ending Dec 31, 2020?

2. What amount of cash will be collected for interest revenue in 2010?

3. What is the amount of interest receivable as of Dec 31, 2010?

4. What amount of cash will be collected for interest revenue in 2021?

5. What amount of interest revenue will be recognized in 2021?

6. What is the amount of interest receivable as of Dec 31, 2021?

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