QUESTION 36 The trial balance of Isaiah Company reflected the following liability account balances at December 31, 2020: Accounts payable 3,420,000 Bonds payable 6,000,000 Deferred tax liability 720,000 Dividends payable 900,000 Income payable 1,620,000 Note payable, due January 31, 2021 1,080,000 Discount on bands payable 360,000 The deferred tax liability is based on temporary differences that will reverse equally in 2021 and 2022. In Isaiah's December 31, 2020 balance sheet, the total current liabilities total was O 7,020,000 O 7,620,000 O none of these O 7,380,000 O 12,660,000 QUESTION 37 On January 1, 2020, Matthew Company issued 12 % bonds with face amount of P5,000,000 for P5,250,000. Interest is payable annually on December 31 and the bonds mature on January 1, 2025. On December 31, 2020, bonds with face amount of P1,250,000 were redeemed at 95. The entity used the straight-line method of amortization. Compute the gain on early retirement of bonds