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24.Courage Company purchased 4,000, P1,000 face amount, 9% bonds to yield 10%. The carrying amount of the bonds on January 1, 2020 was P3,900,000. The
24.Courage Company purchased 4,000, P1,000 face amount, 9% bonds to yield 10%. The carrying amount of the bonds on January 1, 2020 was P3,900,000. The bonds mature on June 30, 2023 and pay interest semiannually on June 30 and December 31. The entity sold 2,000 bonds on March 1, 2020 for P2,000,000 after the interest has been received What amount should be recognized as gain on sale of bonds
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