On January 1, 2021, Jackie Company issued 2,000 P5,000 8% five-year bonds at 90.35 when the market rate is 11%. Interest is payable every January 1 and July 1 starting 2021. (Use 4 decimals for PV) 1 How much is the interest expense for 2021? 2 How much is the discount amortization during 2022? 3 How much is the interest expense for 2023?

On January 1, 2021, Jackie Company issued 2,000 P5,000 8% five-year bonds at 90.35 when the market rate is 11%. Interest is payable every January 1 and July 1 starting 2021. (Use 4 decimals for PV) 1 How much is the interest expense for 2021? 2 How much is the discount amortization during 2022? 3 How much is the interest expense for 2023?

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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