At what amount shall the bonds be initially recognized, Financial Accounting

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At what amount shall the bonds be initially recognized

Problem

On January 1, 2022, MAC purchased as long-term investment 2,000 of the P1,000 face value, 8% bonds of MAX. the bonds were purchased to yield 10% interest. Interest is payable annually every December 31. The bonds mature on December 31, 2027. MAC holds investment in bonds to collect contractual cash flows.

On September 30, 2025, MAC sold the bonds for a total consideration of P2,065,000.

At what amount shall the bonds be initially recognized?

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Financial Accounting: At what amount shall the bonds be initially recognized

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Financial Accounting: At what amount shall the bonds be initially recognized

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