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

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Reference no: EM133001628

On January 1, 2020, BTS Corporation purchased bonds with a face value of P3,000,000 for P3,082,500. The bonds are due on June 30, 2025 and carry a 13% interest rate. Interest is receivable semiannually on June 30 and December 31. On December 31, 2020, the bond had a fair value of P3,050,000. On March 31, 2021, the bonds were sold for P3,190,000 plus accrued interest.

Problem 1: What is the gain or loss on the sale of the bond investment on March 31, 2021, assuming it is a DI@FVTPL?

Reference no: EM133001628

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