On August 1, 20X2, White Co. acquired Black Co. bonds with a face value of P90,000 at 95 plus accrued interest. Interest of 12% per annum is payable semi-annually on April 1 and October 1. The bonds were issued on April 1, 20X2. Bonds of P30,000 mature at annual interval beginning April 1, 20X3. Required: a) Prepare the amortization table following the bond outstanding method. b) Prepare entries related to the bonds for the year 20X2-20X4.

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