Compute the adjusted balances of the Bond interest payable

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Reference no: EM132721661

Question - A twelve-percent bonds was issued by ME Inc. with a face value of P5,000,000, on October 1, 2019 at 96. The bonds will mature on October 1, 2029. Interest is paid every October 1 and April 1 of the year, thus, making it semi-annual. To amortize the bonds discount, ME Inc. uses straight line method.

Based on the data, compute for the adjusted balances of the following as of March 31, 2025:

1) Unamortized bond discount

2) Bond interest payable

3) Total noncurrent liabilities

Reference no: EM132721661

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