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Determine the carrying value of the Bonds on December

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Question - On March 31, 20x7, EASY issued for P1,774,000, P2,000,000 face amount of its 10%, P1,000 bonds. The bonds were issued to yield 12%. The bonds are dated July 1, 20x7 and mature on July 1, 20x10. Interest is payable annually on July 1. EASY uses the interest method to amortize bond discount. Determine the carrying value of the Bonds on December 31, 20x7.

Reference no: EM132713582

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