Question
On March 1, 2021, a company issued a four-year, P3,000,000 face value, 11% term bonds for P3,197,877. The bonds pay interest semi-annually every March 1
On March 1, 2021, a company issued a four-year, P3,000,000 face value, 11% term bonds for P3,197,877. The bonds pay interest semi-annually every March 1 and September 1 and were issued to yield 9%. How much is the interest payable on December 31, 2022?
(Round off final answer to the nearest peso.)
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Answer Date Account Dr Cr 20221231 Interest Expense 932288 Interest payable 9322...
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
10th edition
1260481956, 1260310175, 978-1260481952
