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Compute the total amortization of discount

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Question - On January 1, 2019, White Co. acquired Black Co. bonds with a face value of P900,000 at 105 plus accrued interest. The interest of 12% per annum is payable semi-annually on January 1 and July 1. The bonds were issued on January 1, 2019. Bonds of P300,000 mature at annual intervals beginning January 1, 2020. Compute the total amortization of discount for the year 2019 following the bond outstanding method?

Reference no: EM132600674

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