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On June 1, 2021, Jackie Company issued three-year 12% P20,000,000 bonds dated April 1, 2021. Interest is paid every September 30 and March 31. The yield rate is 15% and Jackie uses the calendar year for accounting purposes. ( if need the value of PV use 4 decimal)
Problem 1: How much is the proceeds from the issuance?
Problem 2: How much is the interest expense for 2021?
Problem 3: How much is the interest expense for 2023?
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HA3011 - Advanced Financial Accounting - Holmes Institute - Identify and describe the accounting concepts used - discuss the issue of measurement and provide
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