Question: On April 1, 20x1, an entity issues bonds with face amount of P5,000,000 for P5,415,183, including accrued interest. The bonds are dated January 1, 20x1

On April 1, 20x1, an entity issues bonds with face amount of P5,000,000 for P5,415,183, including accrued interest. The bonds are dated January 1, 20x1 and pay annual interest of 14% every Dec. 31. The effective interest rate is 12%. Compute for the initial carrying amount of the bonds.*

On April 1, 20x1, an entity issues bonds with face amount of P5,000,000 for P5,415,183, including accrued interest. The bonds are dated January 1, 20x1 and pay annual interest of 14% every Dec. 31. The effective interest rate is 12%. Provide entry on April 1, 20x1 to record the issuance of the bonds.*

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