On January 1, 2018, LJ Company issued 9% bonds in face amount of P8,000,000, which...
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On January 1, 2018, LJ Company issued 9% bonds in face amount of P8,000,000, which mature on January 1, 2028. The bonds were issued for P7,512,000 to yield 10%. The entity used the interest method of amortizing bond discount. Interest is payable annually on December 31. On December 31, 2018, what is the carrying amount of bonds payable? O 7,587,120 O 7,584,000 O 7,592,000 O 7,543,000
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