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How mar should report bond interest of

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Reference no: EM133009511

Problem 1: On January 1, 2002, Mar issued its 10% bonds in the face amount of P1,500,000. They mature on January 1, 2012. The bonds were issued for P1,329,000 to yield 12%, resulting in bond discount of P171,000. Mar uses the effective interest method of amortizing bond discount. Interest is payable July 1 and January 1. For the six months ended June 30, 2002, Mar should report bond interest of:

a. P75,000

b. P79,740

c. P83,550

d. P85,260

Reference no: EM133009511

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