How much is the net effect of the bonds on the statement

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On January 1, 2021, Jackie Company issued 10,000 P5,000 10% four-year bonds at an effective interest rate of 12%. The interest is payable every July 1 and December 31. On June 30, 2023, 6,000 of the bonds were retired at 98.

Question 1: How much is the interest expense for 2021?

Question 2: How much is the discount amortization during 2022?

Question 3: How much is the net effect of the bonds on the 2023 Statement of Comprehensive Income? [Indicate whether it is a gain or loss]

Question 4: How much is the interest expense for 2024?

Reference no: EM132993531

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