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Question - The long-term debt section of EDNA COMPANY's statement of financial position as of December 31, 2015, included 9% bonds payable of P400,000, less unamortized discount of P32,000. Further examination revealed that these bonds were issued to yield 10%. The amortization of the bond discount was recorded using the effective interest method. Interest was paid on January 1 and July 1 of each year. On July 1, 2016, Elmo retired the bonds at 105 before maturity. What is the amount of loss to be recognized on the retirement of bonds?
a. P52,400
b. P20,000
c. P0
d. P51,600
a companys gross profit rate is 30 of sales. expected january sales are 78000 and desired january 31st inventory is
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