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What is the carrying amount to the bond on december

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Reference no: EM132850033

Problem 1: Brooke Company issued P6,000,000, 11%, 10-year bonds on March 31, 2020 when the market interest was 10%. The bonds are priced at 106.25. The bonds pay interest on May 31 and November 30. What is the carrying amount to the bond on December 31, 2020 statement of financial position?

Problem 2: What is the total interest expense that Brooke Company will record the year 2020?

Reference no: EM132850033

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