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What is the interest expense on january

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On January 1, 2020, an entity issued 9% bonds in the face amount of P5,000,000 which mature on January 1, 2030. The bonds were issued for P4,695,000 to yield 10%. Interest is payable annually on December 31. The entity used the interest method of amortizing bond discount.

Question 1: What is the interest expense for 2020?

Reference no: EM132518357

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