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On January 1, 20x1, Tisha M Company contemplates on acquiring P5,000,000, 10% bonds to be classified as Investment measured on amortized cost. Principal on bonds
On January 1, 20x1, Tisha M Company contemplates on acquiring P5,000,000, 10% bonds to be classified as Investment measured on amortized cost. Principal on bonds will mature mature in five annual equal Installments. Interest is also due annually every January 1. The effective Interest rate on January 20x1 is 8%. How much is the estimated purchase price of the bonds on January 20x1? *
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Advanced Financial Accounting
Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker
10th edition
978-0078025624
