DEF Company was authorized to issue 12%, 10-year bond with face amount of P20,000,000 on January 1, 2021.

Interest on the bonds is payable semiannually on June 30 and December 31 of each year.

The entity amortizes discount or premium only at the end of the calendar year using the straight-line method.

If the company sold the bonds at 110, complete the table below.

DEF Company was authorized to issue 12%, 10-year bond with face amount of P20,000,000 on January 1, 2021 Interest on the bonds is payable semiannually on June 30 and December 31 of each year. The entity amortizes discount or premium only at the end of the calendar year using the straight-line method. If the company sold the bonds at 110, complete the table below. Jan 1, 2021 Dec 31, 2021 Dec 31, 2022 Dec 31, 2023 FINANCIAL POSITION Bond payable Premium on bond payable 20.000.000 20,000,000 20.000.000 20.000.000 Net COMPREHENSIVE INCOME Total interest expense