Record all necessary journal entries

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Problem - Kern Company purchased 5 year bonds on September 1 with a faoe amount of P6,000,000 between interest payment dates. Kern purchased the bonds at 102, paid brokerage costs of P90,000 and paid accrued interest for three months of P150,000. Kern has the policy to record premiums, and transaction cost at straight line method. Record all necessary journal entries.

Reference no: EM132977918

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