What amount should gilas pilipinas report

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Question - The following information relates to noncurrent investment that Gitas Pilipinas Company placed in trust as required by the underwriter of its bonds:

Bond sinking fund, January 1, 2020 P5,000,000

Additional investment in 2020 1,000,000

Dividend on investment 510,000

Interest revenue 1,520,000

Administration costs 800,000

Carrying amount of the bonds payable 12,000,000

Required - What amount should Gilas Pilipinas report in its December 31. 2020 statement of financial position related to its sinking fund?

A. 5,230,000

B. 7,230,000

C. 8,030,000

D. 8,970,000

Reference no: EM133190033

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