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On April 1, year 1, Opera Corporation issues P60 million of 12%, 10-year bonds payable at par. Interest on the bonds is payable semiannually each April 1 and October 1. 2) Interest expense on this bond issue reported in Opera Year 1, income statement is: a) 2,400,000

On April 1, year 1, Opera Corporation issues P60 million of 12%, 10-year bonds payable at par. Interest on the bonds is payable semiannually each April 1 and October 1. 2) Interest expense on this bond issue reported in Opera Year 1, income statement is: a) 2,400,000

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 10EA: Pinetop Corporation issued $150,000 10-year bonds at par. The bonds have a stated rate of 6% and pay...
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On April 1, year 1, Opera Corporation issues P60 million of 12%, 10-year bonds payable at par. Interest on the bonds is payable semiannually each April 1 and October 1. 2) Interest expense on this bond issue reported in Opera Year 1, income statement is: a) 2,400,000 b) 4,800,000 c) 5,400,000 d) 7,200,000
Transcribed Image Text:On April 1, year 1, Opera Corporation issues P60 million of 12%, 10-year bonds payable at par. Interest on the bonds is payable semiannually each April 1 and October 1. 2) Interest expense on this bond issue reported in Opera Year 1, income statement is: a) 2,400,000 b) 4,800,000 c) 5,400,000 d) 7,200,000
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