Auditing Problems- Audit of Investments

update the books. The PROBLEM 4-3 In auditing the books of KIKO COMPANY as of Dec. 31, 2020 before the accounts are closed, you found the long-term investment account: INVESTMENT IN BONDS (6% p.a., Maturity Date, June 1, 2026 2020 :2020 Feb. 20 Bonds of P200,060 were acquired :Apr. 10 Proceeds from the sale of at 97.75% plus accrued interest : interest bonds & accrued interest P42,600 P198,200 :June 1 Interest received 4,800 :Sept. 1 Proceeds from the sale of P40,000 bonds at 102.5% & accrued interest 41,600 REQUIRED: 1. Assuming all amounts in the T-account above are correct, determine the following: a. Original cost b. Maximum holding period (rounded to nearest whole month) c. Principal sold last April 10, 2020.1 d. Interest dates e. Effective interest up to 3 decimals 2. Prepare the correct entries up to Dec. 31, 2020. Show the "table" up to Dec. 31, 2020 to validate the entries. 3. Prepare the correcting entries as of Dec. 31, 2020 to update the books