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. How much is the interest expense for 2021? How much is the discount amortization during 2022? How much is the interest expense for 2023? How much is the discount amortization during 202

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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.

  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?
  4. How much is the discount amortization during 2024?
  5. How much is the unamortized discount as of July 1, 2025?

 

Round off all final answers to the nearest peso. 

Round off present value factors to four decimal places. 

Round off interpolated rates to the nearest percentage

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