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1. Cars Company purchased P4,000,000 of 10% bonds on January 1, 2016 paying P4,240,000. The bonds mature January 1, 2026 with interest payable each July

1. Cars Company purchased P4,000,000 of 10% bonds on January 1, 2016 paying P4,240,000. The bonds mature January 1, 2026 with interest payable each July 1 and January 1. The premium of P240,000 p...

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