On January 1 Year 2 Grand Company Purchased as held for the collection Investment P1,000,000...
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Accounting
On January 1 Year 2 Grand Company Purchased as held for the collection Investment P1,000,000 face value of Zazu Company's 8% bond for 912,400. The bonds mature on January 1 Year 7 and Pay interest annually on January 1.
What amount should Grand Company report on its Dec 31 Yr 2 Statement of Financial position for the held for collection?
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