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Find what amount should report as interest revenue

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Problem 1: On January 1, 2016 A company purchased as debt investments at amortized cost, P2,000,000 of Company's 8% bonds for P1,812,000. The bonds were purchased to yield 10% interest. The bonds mature on January 1, 2026 and pay interest semi-annually on January 1 and July 1. uses the effective interest method of amortization. In its December 31 2016 statement of comprehensive income, what amount should report as interest revenue?

Reference no: EM132733101

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