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White Company issued P8,000,000, 12% bonds on December 31, 2021 at 96. Interest is payable annually on December 31. Bond maturity: December 31 2023 2024

White Company issued P8,000,000, 12% bonds on December 31, 2021 at 96. Interest is payable annually on December 31. Bond maturity: December 31 2023 2024 2025 2026 2027 2028 1,000,000 1,000,000 1,000,000 1,000,000 2,000,000 2,000,000 8,000,000 Total Prepare a schedule showing the annual amortization of the bond discount using the bond outstanding method. Complete the table below. Jan 1, 2021 Dec 31, 2021 Dec 31, 2022 Dec 31, 2023 Dec 31, 2024 Dec 31, 2025 Dec 31, 2026 Dec 31, 2027 Dec 31, 2028 FINANCIAL POSITION Bond payable Discount on bond payable Net COMPREHENSIVE INCOME Interest expense - Dec 30 (Jan-Dec) Interest expense - discount on B/P Total interest expense Fraction

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