On January 1, 2023, Resilient & Tough Company purchased bonds with a face amount of PS for P4,692,570 to yield 10%. The bonds are dated January 1, 2023, mature on December 31, 2032, anc pay interest annually on December 31. The entity used the effective interest method. What amount sho be reported as interest revenue for 2023? a. 422,331 b. 450,000 469,257 d. 500,000
On January 1, 2023, Resilient & Tough Company purchased bonds with a face amount of PS for P4,692,570 to yield 10%. The bonds are dated January 1, 2023, mature on December 31, 2032, anc pay interest annually on December 31. The entity used the effective interest method. What amount sho be reported as interest revenue for 2023? a. 422,331 b. 450,000 469,257 d. 500,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 1MC
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