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26. On July 1, 2023, Marilag Company purchased 10,000 of the P1,000 face amount, 10% bonds for P9,263,991 to yield 12% per annum. The bonds, which will mature on July 1, 2028, pay interest semi annually on January 1 and July 1. The effective interest method of amortization is used. What is the carrying amount of the bond investment on July 1, 20243 b. 9,155,663 9,379,020 a. 9,059,944 d. 9,508,267

26. On July 1, 2023, Marilag Company purchased 10,000 of the P1,000 face amount, 10% bonds for P9,263,991 to yield 12% per annum. The bonds, which will mature on July 1, 2028, pay interest semi annually on January 1 and July 1. The effective interest method of amortization is used. What is the carrying amount of the bond investment on July 1, 20243 b. 9,155,663 9,379,020 a. 9,059,944 d. 9,508,267

FINANCIAL ACCOUNTING
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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26. On July 1, 2023, Marilag Company purchased 10,000 of the P1,000 face amount, 10% bonds for P9,263,991 to yield 12% per annum. The bonds, which will mature on July 1, 2028, pay interest semi- annually on January 1 and July 1. The effective interest method of amortization is used. What is the carrying amount of the bond investment on July 1, 20243 a. 9,059,944 b. 9,155,663 9,379,020 d. 9,508,267
Transcribed Image Text:26. On July 1, 2023, Marilag Company purchased 10,000 of the P1,000 face amount, 10% bonds for P9,263,991 to yield 12% per annum. The bonds, which will mature on July 1, 2028, pay interest semi- annually on January 1 and July 1. The effective interest method of amortization is used. What is the carrying amount of the bond investment on July 1, 20243 a. 9,059,944 b. 9,155,663 9,379,020 d. 9,508,267
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