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5 ABC Company is currently under financial difficulty and is unable to meet interest payments and fund requirements to retire its P 10,000,000 bonds payable
5 ABC Company is currently under financial difficulty and is unable to meet interest payments and fund requirements to retire its P 10,000,000 bonds payable held by DEF Corporation. Accrued interest on the bonds amounted to 10% of face value of the bonds.In order to prevent bankruptcy, ABC Company entered into an agreement with DEF Corporation to exchange equity securities for the bonds. ABC Company is issuing 100,000 shares of its P 50 par value ordinary shares. The ordinary share is currently selling at P 80. How much is the gain on debt restructuring? To input answers, kindly follow the sample format below(no peso sign, with comma, no space): ex. 100,000 Failure to follow the format will invalidate your answer. * (1 Point) Enter your
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