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On January 1, 2022, BULGARIA Company issued a 5-year, P5,000,000 face value, 14% bonds. The effective interest rate for similar bonds is 12%. Interest on
On January 1, 2022, BULGARIA Company issued a 5-year, P5,000,000 face value, 14% bonds. The effective interest rate for similar bonds is 12%. Interest on the bonds is payable annually on December 31. On June 30, 2023, the P3,000,000 bonds were retired by the company at P105. (Round off the PV factor to 4 decimal places if applicable)
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Fundamental financial accounting concepts
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
8th edition
978-007802536, 9780077648831, 0078025362, 77648838, 978-0078025365
