C. On January 1, 2021, Luke Company issued its 9%, P5,000,000 face value bonds at a premium.

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C. On January 1, 2021, Luke Company issued its 9%, P5,000,000 face value bonds at a premium. The yield rate of the 5 year term bonds that pays interest every June 30 and December 31 was 7%

8. Initial measurement of the bonds

9. Interest expense to be reported in the 2021 income statement is

10. Premium amortization for 2021 is

11. Carrying value of the bonds at December 31, 2021

Posted Date: May 18, 2024 07:06 PM

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C. On January 1, 2021, Luke Company issued its 9%, P5,000,000 face value bonds at a premium.

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