A company issues P20,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2017. Interest is paid on June 30 and December 31. The proceeds from the bonds are P19,604,145. Using effective-interest amortization, how much interest expense will be recognized in 2017?
18.) A company issues P20,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2017. Interest is paid on June 30 and December 31. The proceeds from the bonds are P19,604,145. Using effective-interest amortization, how much interest expense will be recognized in 2017?
19.) On Janaury 1, 2021, Eastern Corp. received P 1,077,200 for P 1,000,000 face amount 12% bonds. The bonds were sold to yield 10%. Interest is payable semiannually every January 1 and July 1. The entity has elected the fair value option for measuring the financial liability. On Dec. 31, 2021, the fair
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