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What amount of interest income should be reported

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Question - On Jan 1, 2011 Cambodia Company purchased bonds with face value of 5, 000, 000 at a cost of 4, 700, 000to be held financial asset at amortized cost. The stated interest is 10% payable annually every Dec 31. The bonds mature in 4 years or Jan 1, 2015. What amount of interest income should be reported by Cambodia Company for the year ended Dec 31, 2011 under the effective interest method?

Reference no: EM133027631

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