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What total income or loss from bond investment be reported

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Reference no: EM133152029

Question - Clover Company purchased P3,000,000 of bonds at par. The entity has elected the fair value model for this investment. At year- end, the entity received annual interest of P120,000 and the fair value of the bonds was P2,823,000. What total income or loss from bond investment should be reported in the income statement? Indicate GAIN or LOSS.

Reference no: EM133152029

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