Question
On December 31, 2020, Balbond issued 3,000 of its 15-year 6%, P1,000 face value bonds for P2,486,431. Interest is payable annually every December 31. The
On December 31, 2020, Balbond issued 3,000 of its 15-year 6%, P1,000 face value bonds for P2,486,431. Interest is payable annually every December 31. The effective rate for similar instruments is 8%. How much is the carrying value of the bond as of December 31, 2033?
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Horngrens Accounting
Authors: Tracie L. Miller nobles, Brenda L. Mattison, Ella Mae Matsumura
12th edition
9780134487151, 013448715X, 978-0134674681
