On January 2, 2016, Santos Company issued 9% bonds in the amount of P10,000,000 which mature on January 2, 2026. The bonds were issued for P9,390,000 to yield 10% resulting in a bond discount of P610,000. Interest is payable annually on December 31. Santos uses the interest method of amortizing bond discount. in its December 31, 2016 statement of financial position, what amount should Santos report as bond payable? 10,000,000 9,429,000 9,390,000 9,451,000