On January 1, 2020, Soledad Company purchased 10% bonds with face amount of P3,000,000. The bonds mature on January 1, 2030 and were purchased for P3,405,000 to
Problem 21-3 (IFRS- From amortized cost to FVPL) On January 1, 2020, Soledad Company purchased 10% bonds with face amount of P3,000,000. The bonds mature on January 1, 2030 and were purchased for P3,405,000 to yield 8%. The entity used the effective interest method of amortization and interest is payable annually every December 31. The business model for this investment is to collect contractual
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