On August 31, 2021, BEAST Company issued at 104 plus accrued interest, three thousand 10% bonds with a face amount of ₱1,000 per bond. The bonds are dated April 1, 2021, mature on March 31, 2026, and pay interest every April 1 and October 1. The bonds were issued through an underwriter to whom the entity paid bond issue cost of ₱120,000. Requirements: A. Prepare all necessary journal entries for the calendar year 2021. B. Compute for the following: 1. How much is the interest expense for the year ended December 31, 2021? 2. How much

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A:

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Q: On August 31, 2021, BEAST Company issued at 104 plus accrued interest, three thousand 10% bonds with…

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Q: at 95. T

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