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What is the interest income for the year ended

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Question - On July 1, 2021, G Company acquired a P15 million, 8%, bonds due on July 1, 2030 (10 years). The investment was designated at amortized cost. The bonds pay interest semi-annually on January 1 and July 1, and were purchased for P13,125,000 to yield 10%.

Required - Determine the following:

What is the interest income for the year ended, December 31, 2021?

What is the amortized cost of the investment on December 31, 2022?

What is the discount amortization for the year ended December 31, 2023?

Reference no: EM133022957

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