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What is the Interest Income on December 31, 2019? * On January 1, 2017, ABC...

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What is the Interest Income on December 31, 2019? * On January 1, 2017, ABC Company purchased 5 year bonds with face value of P1,000,000 and stated interest of 12% per year payable annually every December 31. The bonds were acquired to yield 10%. The following data relate to the bonds December 31, 2017 December 31, 2018 Acquisition cost Amortized cost Fair value Amortized cost Fair value P.303,263 M,253,589 P4,388 766 P4,198,918 P.0972/19 The prevailing market rate of interest applicable to the bonds at the end of market 2017 and 2018 are at 9% and 11% respectively. The prevailing market rate of interest on January 1, 2019 is also 11%. Assume that the above securities are properly classified as FVPL under PFRS 9: Your

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