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On January 1, 2020,Viper Company purchased serial bonds with face vale of P3,000,000 and stated interest rate of 12%, payable annually every December 31. The

On January 1, 2020,Viper Company purchased serial bonds with face vale of P3,000,000 and stated interest rate of 12%, payable annually every December 31. The bonds are to be held to maturity with a 10% effective yield. The bonds mature at an annual installment of P1,000,000 every December 31. Note: Round off present value factors to two decimal places Required: Prepare the journal entries for 2020, 2021 and 2022 SHOW SOLUTION

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