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Compute for the carrying value on December

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Question - On January 1, 2020 ABC Co. issued 3-year bonds with a face value of P1,200,000 and stated interest of 8% per year. The bonds mature in 3 equal annual installments every December 31. The interest is also payable every December 31. The bonds were acquired to yield 10%. The bonds were appropriately classified as financial liability at amortized cost.

Required -

1. Compute for the carrying value on December 31, 2021.

2. Compute for the interest Expense 2020.

Reference no: EM132680574

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