Elizabeta Corporation, a calendar year entity, issued bonds with the following terms: Face value of bonds P 5,000,000 Issue price 5,300,000 Date of bonds January 1, 2021 Date of issue January 1, 2021 Interest rate 12% Semi-annual interest dates June 30 and December 31 The bonds mature on every December 31 of each year at the rate of P1,000,000 for 5 years. Elizabeta uses the bond outstanding method in amortizing discounts, premiums and bondissue costs. The amount of interest expense to be recognized relating to the bonds in 2022 is: Your answer The carrying amount of the bonds as of December 31, 2023 is: Your answer Suppose serials bonds with face value of P1,000,000 scheduled to be retired on December 31, 2024 are retired at 104 on December 31, 2022, two years prior to their redemption date, what amount should Elizabeta report in its 2022 income statement as gain (loss) on early extinguishment of debt? Your