PROBLEM 21 and 22 with solution please

Problem 6-21 (AICPA Adapted) On January 1, 2020, Carrow Company issued 10% bonds in 2029. The bonds were issued for P4,430,000 to yield 12%, the face amount of P5,000,000 that mature on December 31, resulting in bond discount of P570,000. The entity used the interest method. Interest is payable semiannually on June 30 and December 31. 1. What amount should be reported as interest expense for 2020? a. 532,548 b. 500,000 C. 531,600 d. 443,000 2. What is the carrying amount of the bonds payable on December 31, 2020? a. 4,430,000 b. 4,461,600 c. 4,462,548 d. 5,000,000 233 Problem 6-22 (IFRS) with face amount of P5,000,000 at 110. The entity paid bond On January 1, 2020, Masbate Company issued 5-year bonds issue cost of P80,000 on same date. The stated interest rate on the bonds is 8% payable annually . the bond issue cost. The entity used the effective interest method of amortization. On December 31, 2020, what is the carrying amount of the bonds payable? a. 5,000,000 b. 5,400,000 c. 5,345,200 d. 5,430,000