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Journal entries during the term of the bonds

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Reference no: EM132761974

Question - On January 1, 2011, an entity issues bonds with face amount of P5,000,00 for P5,733,129. The bonds mature on December 31, 2013 and pay annual interest of 14%, The effective interest rate is 8%.

a. Amortization table for the bonds and the required journal entries.

b. Journal entries during the term of the bonds.

Reference no: EM132761974

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