10) Sansa Company has outstanding 7% 10-year P5,000,000 face value bond. The bond was issued and dated on December 31, 2015. It was originally sold to yield 6% interest. Sansa uses the effective interest method to amortize the bond premium/discount. Interest is paid every June 30 and Dec 31. After updating its books today, the carrying amount of the bond is adjusted to 5,298,448.38. What date is it today?

10) Sansa Company has outstanding 7% 10-year P5,000,000 face value bond. The bond was issued and dated on December 31, 2015. It was originally sold to yield 6% interest. Sansa uses the effective interest method to amortize the bond premium/discount. Interest is paid every June 30 and Dec 31. After updating its books today, the carrying amount of the bond is adjusted to 5,298,448.38. What date is it today?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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