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What is the gain-loss on the sale of the bond investment

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Reference no: EM133172015

Question - On June 1 2000 Anya company Purchased as held for the collection securities 8,000 of the P 1000 face values, 8% bonds of Emy company for P7,383,000. The bonds were purchased to yield 10% interest. Interest is payable semi-annually on Dec 1 and June 1. The bonds Mature on June 1 2005 On June 1 2001 Anya Company sold the bonds for P7,850,000. This amount includes the appropriate accrued interest. What is the Gain/loss on the sale of the bond investment?

Reference no: EM133172015

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