On April 1, 2020, Purefoods Company purchased a P1,000,000 face value 8% bond for P910,000 including accrued interest and commission. The commission to acquire the bonds was P5,000. The bonds are dated January 1, 2020 and mature on January 1, 2025, and pay interest semi-annually on January 1 and July 1. On December 31, 2020, the bonds had a fair value of P920,000. On April 1, 2021, Purefoods sold the bonds for a total consideration of P950,000