On Jan. 1, 2021, ABC paid P3,050,000 for a serial bond that has aface value of P3,000,000, term of 5 years, and nominal rate of 9%.ABC made the investment to collect the contractual cashflowswhich are to be received every Dec. 31, 2021. ABC additionally paidthe broker a fee of P25,550. The resulting effective interest ratefrom the acquisition is 8%. What is the compound journal entry torecord the interest collected and principal amount collected as wellas the interest earned on Dec. 31, 2021? In the google form, providethe correct balance of the investment after collecting the cashflowson that same day.LEOGERpetGENERAL LEDGEROOSShore all, ENG15 03/2021

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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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.

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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

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