On July 1, 2019, Cody Company paid P1, 198,000 of 10%, 20-year bonds with a face...

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On July 1, 2019, Cody Company paid P1, 198,000 of 10%, 20-year bonds with a face amount of P1,000,000. Interest is paid on June 30 and December 31. The bonds were purchased to yield 8%. The effective interest method is used to recognized interest income from this long-term investment. What is the carrying amount of the investment in bonds on December 31, 2019? On July 1, 2019, Cody Company paid P1, 198,000 of 10%, 20-year bonds with a face amount of P1,000,000. Interest is paid on June 30 and December 31. The bonds were purchased to yield 8%. The effective interest method is used to recognized interest income from this long-term investment. What is the carrying amount of the investment in bonds on December 31, 2019?

Answer rating: 100% (QA)

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