(Answered) On july 1 20x4 ufo inc purchased 300000 of bonds with a 4

Accounting

On July 1, 20X4, UFO Inc. purchased $300,000 of bonds with a 4% coupon rate that mature on June 30, 15 years later. The bonds provide a 5% yield. Interest is to be received on June 30and December 31 every year. The bonds had a market value of $275,000 on December 31,20X4, and $272,000 on December 31, 20X5. UFO is a public company and applies IFRSs.1. Assuming the bonds will be held to maturity, what is the amount of interest revenue to be recorded for the fiscal year ended December 31, 20X5?

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