On January 1,Year 1 Abu Company acquired 5-year, 15%, P8,000,000 face value bonds for P8,274,646. Based on the company’s business model and the contractual cash flow collectible from this instrument, Abu Company designates the bonds as bond investments at amortized cost. Interest on the bonds is payable annually on December 31. The investments were acquired at a price to

Sep 8, 2023

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On January 1,Year 1 Abu Company acquired 5-year, 15%, P8,000,000 face value bonds for P8,274,646. Based on the company’s business model and the contractual cash flow collectible from this instrument, Abu Company designates the bonds as bond investments at amortized cost. Interest on the bonds is payable annually on December 31. The investments were acquired at a price to
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