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Compute the amount of interest accrued on july

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Reference no: EM133171764

Question - Assume that the Valenzuela Corporation issues P1,000,000, 5-year, 12% bonds on March 2020. bonds, dated January 2, 2020, pay interest semiannually on January 2 and July 1.

Required -

1. Compute the amount of interest accrued on March 1 and its corresponding journal entry.

2. Compute the amount of interest accrued on July 1 and its corresponding journal entry.

Reference no: EM133171764

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