Question: q7 please provide complete solution thank you!! Question 7 2 pts On May 1, 2019. an entity issued 5,000 of its 8-year P1,000 face value,

q7 please provide complete solution thank you!! Question 7 2 pts

q7 please provide complete solution thank you!!

Question 7 2 pts On May 1, 2019. an entity issued 5,000 of its 8-year P1,000 face value, 11% bonds dated May 1 at an effective annual yield of 9%. Interest is payable every April 30. The entity uses the effective interest method of amortization. Determine interest expense recorded in 2020 related to these bonds. e 550.000 333,219 e 496,817 499,828

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