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

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DEF Company was authorized to issue 12%, 10-year bond with face amount of P20,000,000 on January 1, 2021. The effective interest rate is 10% 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 effective interest method. If the company sold the bonds at P22,457,040, complete the table below. Jan 1, 2021 Dec 31, 2021 Dec 31, 2022 Dec 31, 2023 Dec 31, 2024 Dec 31, 2025 Dec 31, 2026 Dec 31, 2027 Dec 31, 2028 Dec 31, 2029 Dec 31, 2030 FINANCIAL POSITION Bond payable Premium on bond payable Net COMPREHENSIVE INCOME Interest expense - Dec 31 (Jan-Dec) Date Interest paid FAX NR Interest expense IP x ER Amortization ER-NR Carrying amount CA+Amor January 1, 2021 December 31, 2021 December 31, 2022 December 31, 2023 December 31, 2024 December 31, 2025 December 31, 2026 December 31, 2027 December 31, 2028 December 31, 2029 December 31, 2030

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