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How much is the unamortized discount or premim on december

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Reference no: EM132650727

On January 1, 20x1, Athena Co. acquired P1,000,000 face amount, 14% bonds for P1,060,747. The bonds mature in 4 years time but interest is due annually every January 1. The bonds are measured at amortized cost. The effective interest rate is 12%.

Requirements: provide all step by step solutions

Question a. Prepare the amortization table

Question b. Prepare all the journal entries

Question c. How much is the unamortized discount or premim on December 31, 20x2?

Question d. Assume all the bonds were sold on January 1, 20x3 att 110. Transaction costs incurred on sale amounted to P40,000.

Reference no: EM132650727

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