1.On July 1, 2018, TRES Company purchased an 8-yr, 12% bonds with a face value of ₱ 4,875,000 at 102 plus accrued interest to be recognized at amortized cost. The bonds mature on June 30, 2022 and pay interest semi-annually on April 1 and October 1. How much should be reported as interest receivable as of December 31, 2019? 2.On July 1, 2018, TRES Company purchased an 8-yr, 12% bonds with a face value of ₱ 4,875,000 at 102 plus accrued interest to be recognized at amortized cost. The bonds mature on June 30, 2022 and pay interest semi-annually on April 1 and October 1. How much is the cash paid upon acquisition?
1.On July 1, 2018, TRES Company purchased an 8-yr, 12% bonds with a face value of ₱ 4,875,000 at 102 plus accrued interest to be recognized at amortized cost. The bonds mature on June 30, 2022 and pay interest semi-annually on April 1 and October 1. How much should be reported as interest receivable as of December 31, 2019? 2.On July 1, 2018, TRES Company purchased an 8-yr, 12% bonds with a face value of ₱ 4,875,000 at 102 plus accrued interest to be recognized at amortized cost. The bonds mature on June 30, 2022 and pay interest semi-annually on April 1 and October 1. How much is the cash paid upon acquisition?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1.On July 1, 2018, TRES Company purchased an 8-yr, 12% bonds with a face value of ₱ 4,875,000 at 102 plus accrued interest to be recognized at amortized cost. The bonds mature on June 30, 2022 and pay interest semi-annually on April 1 and October 1. How much should be reported as interest receivable as of December 31, 2019?
2.On July 1, 2018, TRES Company purchased an 8-yr, 12% bonds with a face value of ₱ 4,875,000 at 102 plus accrued interest to be recognized at amortized cost. The bonds mature on June 30, 2022 and pay interest semi-annually on April 1 and October 1. How much is the cash paid upon acquisition?
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