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What is the carrying amount of the bonds on december

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Question - On October 1, 2021, POGI Company purchased 4,000 of the P1,000 face amount, 10% bonds of GANDA Company for P4,462,500 which included accrued interest of P200,000. The bonds which mature on January 1, 2028, pay interest semiannually on January 1 and July 1. The entity used the straight-line method of amortization and appropriately recorded the bonds as financial asset at amortized cost. What is the carrying amount of the bonds on December 31, 2021?

Reference no: EM133140589

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