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On January 1, 2022, Bee Company purchased bonds with a face value of P3,000,000 for P3,108,000 to yield 12%. The bonds are due on December
On January 1, 2022, Bee Company purchased bonds with a face value of P3,000,000 for P3,108,000 to yield 12%. The bonds are due on December 31, 2026 and carry a 13% interest rate. Interest is receivable annually on December 31. On June 30, 2023, one-half of the bonds were sold for P1,595,000 plus accrued interest. After the disposal, the company changed its business model for managing its financial assets and is now actively trading its portfolio. At December 31, 2023, the bonds were quoted at 101. What is the gain on the sale of the bond investment
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