Question
28. On January 2, 2020 Lucban Company issued 9% bonds in the amount of P10,000,000 which mature on January 2, 2030. The bonds were issued
28. On January 2, 2020 Lucban Company issued 9% bonds in the amount of P10,000,000 which mature on January 2, 2030. The bonds were issued for P9,390,000 to yield 10% resulting in a bond discount of P610,000. Interest is payable annually on December 31, 2020 statement of financial position. What is the amount of unamortized discount?
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Auditing A Practical Approach
Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton
4th Edition
0730382648, 978-0730382645
