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What amount should bts report as interest receivable

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Reference no: EM133001627

On November 1, 2021, BTS Corporation purchased P800,000 face value, 10-year, 8% term bonds dated October 1, 2021 for P700,000 to yield 10% plus accrued interest. Interest is receivable every April 1 and October 1.

Problem 1: What amount should BTS report as interest receivable in its December 31, 2021 balance sheet?

Reference no: EM133001627

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