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What is the amortized cost on december

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Reference no: EM132628780

On January 1, 2020, Richard Perez borrowed P225,000.00 pesos payable in five years. The prevailing interest rate is 10%.

a. Interest is payable annually every Dec 31. The loans was interest bearing.

Amortized Cost on January 1, 2020

Amortized Cost on December 31, 2020

Interest to be recognized for the year 2020

b. Interest is accumulated until Dec 31, 2020.

The loans was interest bearing.

Amortized Cost on January 1, 2020

Amortized Cost on December 31, 2020

Interest to be recognized on December 31, 2020

c. Richard will pay the interest and principal at the end of the 5th year.

Amortized Cost on January 1, 2020

Amortized Cost on December 31, 2020

Interest to be recognized in December 31, 2021

d. Richard will pay 45,000 pesos every year starting December 31, 2020.

Amortized Cost on January 1, 2020

Amortized Cost on December 31, 2020

Principal Applied on December 31, 2020

e. Richard will pay 45,000 pesos every year starting January 1, 2020.

Amortized Cost on January 1, 2020

Interest on December 31, 2021

f. Richard will pay 45,000 pesos every year starting December 31, 2023.

Problem 1: What is the amortized cost on December 31, 2020

Reference no: EM132628780

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