On July 1, 2020, Carol Company issued at 104, five thousand 10% bonds with face amount of P1,000 per bond. The bonds were issued through an underwriter to whom the entity paid bond issue cost of P125,000. On July 1, 2020, what is the carrying amount of the bonds payable? a. 4,875,000 b. 5,075,000 c. 5,200,000 d. 5,325,000

On July 1, 2020, Carol Company issued at 104, five thousand 10% bonds with face amount of P1,000 per bond. The bonds were issued through an underwriter to whom the entity paid bond issue cost of P125,000. On July 1, 2020, what is the carrying amount of the bonds payable? a. 4,875,000 b. 5,075,000 c. 5,200,000 d. 5,325,000

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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