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from the acquisition is 8%. What is the compound journal entry to record the interest collected and principal amount collected as well as the interest earned on Dec. 31, 2021? In the google form, provide the correct balance of the investment after collecting the cashflows on that same day.

from the acquisition is 8%. What is the compound journal entry to record the interest collected and principal amount collected as well as the interest earned on Dec. 31, 2021? In the google form, provide the correct balance of the investment after collecting the cashflows on that same day.

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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On Jan. 1, 2021, ABC paid P3,050,000 for a serial bond that has a face value of P3,000,000, term of 5 years, and nominal rate of 9%. ABC made the investment to collect the contractual cashflows which are to be received every Dec. 31, 2021. ABC additionally paid the broker a fee of P25,550. The resulting effective interest rate from the acquisition is 8%. What is the compound journal entry to record the interest collected and principal amount collected as well as the interest earned on Dec. 31, 2021? In the google form, provide the correct balance of the investment after collecting the cashflows on that same day. LEOGERpet GENERAL LEDGEROOS Shore all , ENG 15 03/2021
Transcribed Image Text:On Jan. 1, 2021, ABC paid P3,050,000 for a serial bond that has a face value of P3,000,000, term of 5 years, and nominal rate of 9%. ABC made the investment to collect the contractual cashflows which are to be received every Dec. 31, 2021. ABC additionally paid the broker a fee of P25,550. The resulting effective interest rate from the acquisition is 8%. What is the compound journal entry to record the interest collected and principal amount collected as well as the interest earned on Dec. 31, 2021? In the google form, provide the correct balance of the investment after collecting the cashflows on that same day. LEOGERpet GENERAL LEDGEROOS Shore all , ENG 15 03/2021
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