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Find the carrying amount of the investment in bonds

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Question - On June 1, 2016, ABC Corporation purchased as a long-term investment 4,000 of the P1,000 face value, 8% bonds of DEF Corporation for P3,645,328. Interest is payable semiannually on December 1 and June 1. The bonds mature on June 1, 2022. On November 1, 2017, ABC sold the bonds for a total consideration of P3,925,000. ABC intended to hold these bonds until they matured. Find the carrying amount of the investment in bonds as of December 31, 2016?

Reference no: EM132596420

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