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What is total amount of interest income that kulit report

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Problem 1: On June 30, 2019, Kulit Company purchased an 8%, 4 year, P 3500000 face value bonds for P 3745000 The bonds are dated June 30, 2019 and pays interest every June 30, effective rate of the bonds is 6%. If the company has a business model of collecting all contractual cash flows involving interest and principal on outstanding debt security, what is the total amount of interest income that Kulit should report in its December 31, 2020 December 31, profit or loss?

Reference no: EM132667249

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