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What amount maine record as additional paid-in capital

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On May 1, 2019, Maine Company issued P2 million, 20-year, 10% bonds for P2,120,000. Each P1,000 bond had a detachable warrant eligible for the purchase of one share of Maine's P50 par ordinary share for P60. Immediately after the bonds were issued, Maine's securities had the following market values: 10% bonds without warrants- P1,040; warrants - P20; Ordinary share P50 par-P56.

Question 1: What amount should Maine record as additional paid-in capital?

Reference no: EM132513061

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