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Estimate the interest expense of the bonds on december

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Problem 1: On March 31, 2007, Company A issued for P1,774,000, P2,000,000 face amount of its 10%, P1,000 bonds. The bonds were issued to yield 12%. The bonds are dated July 1, 2007 and mature on July 1, 2010. Interest is payable annually on July 1. Company uses the interest method to amortize bond discount. Determine the interest expense of the Bonds on December 31, 2008.

Reference no: EM132680844

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