8. On January 1,2020, Care Company purchased Bay Cormpany's 9% bonds with aface amount of P4000,000 for P3,756000 to yield to 10%. The bonds are datedJonvary 1,2020,mature on December 31,2029, and pay interest annualy onDecember 31. Care uses the interest method. Whatamount should Care reportas interest revenve for 20207Q. 400,000b. 344,400C. 360,000d. 375,600purchosed P5.000.000 foce omount.8% bonoS of

The interest to be recorded on the bonds is calculated on the fair value of the bonds with the…

8. On January 1,2020, Care Company purchased Bay Cormpany's 9% bonds with a face amount of P4000,000 for P3,756,000 to yield to 10%. The bonds are dated Jonuary 1,2020,mature on December 31, 2029, and pay interest annually on December 31. Care uses the interest method. Whatamount should Care report as interest revenve for 2020? Q. 400,000 b. 344,400 c. 360000 d. 375,600 purchosed P5.000.000 foce omount. 8% bonoS of

8. On January 1,2020, Care Company purchased Bay Cormpany's 9% bonds with a face amount of P4000,000 for P3,756,000 to yield to 10%. The bonds are dated Jonuary 1,2020,mature on December 31, 2029, and pay interest annually on December 31. Care uses the interest method. Whatamount should Care report as interest revenve for 2020? Q. 400,000 b. 344,400 c. 360000 d. 375,600 purchosed P5.000.000 foce omount. 8% bonoS of

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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