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Wally Company has outstanding 7%,10 year P5,000,000_00 face amount bond. The bond was originally sold to yield 6% annual interest. The entity used the effective

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Wally Company has outstanding 7%,10 year P5,000,000_00 face amount bond. The bond was originally sold to yield 6% annual interest. The entity used the effective interest method to amortize the bond premium. On January 'I, 2020 the carrying amount of the bond was P5,250,000_00 What is the carrying amount of bonds payable on December 3'l, 2020

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