put all of the necessary data and computations for better understanding. s ☺️ Transcribed Image Text: 3. On September 1, 20×1, an entity issues bonds with face amount of P8,000,000

put all of the necessary data and computations for better understanding. s ☺️ Transcribed Image Text: 3. On September 1, 20×1, an entity issues bonds with face amount of P8,000,000 for P9,105,022,
including accrued interest. The bonds are dated January 1, 20×1 and pay annual interest of 1% every
December 31. The effective interest rate is 9%.
Requirement:
a. Compute for the initial carrying amount the bonds.
b. Provide the entry on September 1, 20×1 to record the issuance of the bonds.
c. Compute for the interest expense in 20×1.

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