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How much is the interest income recognized for bts co

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Reference no: EM133001609

BTS Co. purchased P500,000 of 9%, 4-year bonds from TWICE, Inc. on January 1, 2021, with interest payable on June 30 and December 31. The bonds sold for P468,327 at an effective interest rate of 11%. At December 31, 2021, the fair value of the TWICE, Inc. bonds was P498,000. BTS Co. account for its investment to collect contractual cash flows and to sell.

Problem 1: How much is the amount reported in other comprehensive income in 2021?

Problem 2: How much is the interest income recognized in 2021?

Reference no: EM133001609

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