On January 1, 2020, when the market rate for bonds interest was 12%, Black Corporation issued P10 million face amount of bonds with interest to be paid semi-annually at a 10% annual rate every June 30 and December 31. The bonds mature on December 31,2029 and were issued at a discount of P1,145,000. How much is the increase in the carrying amount of the bond liability from January 1 to June 30, 2020?
On January 1, 2020, when the market rate for bonds interest was 12%, Black Corporation issued P10 million face amount of bonds with interest to be paid semi-annually at a 10% annual rate every June 30 and December 31. The bonds mature on December 31,2029 and were issued at a discount of P1,145,000. How much is the increase in the carrying amount of the bond liability from January 1 to June 30, 2020?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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On January 1, 2020, when the market rate for bonds interest was 12%, Black Corporation issued P10 million face amount of bonds with interest to be paid semi-annually at a 10% annual rate every June 30 and December 31. The bonds mature on December 31,2029 and were issued at a discount of P1,145,000.
How much is the increase in the carrying amount of the bond liability from January 1 to June 30, 2020?
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