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What is the carrying amount of bond investment on december

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On January 1, 2020, Cote d'Ivoire Company purchased serial bonds with face amount of P3,000,000 and stated 12% interest payable annually every December 31. The bonds are to be held as financial assets at amortized cost with a 10% effective yield. The bonds mature at an annual installment of P1,000,000 every December 31.

Problem 1: What is the bond premium?

Problem 2: What is the carrying amount of the bond investment on December 31, 2020?

Reference no: EM132822864

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