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On 1 July 2018 Bombo Ltd issues $2 million in six-year debentures that pay interest each six months at a coupon rate of 8 per cent. At the time of issuing the securities, the market requires a rate of return of 6 per cent. Interest expense is determined using the effective-interest method.
Required:
Question (i) Determine the issue price of the debenture.
Question (ii) Provide the journal entries at:
1 July 2018, 30 June 2019, & 30 June 202
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This is the link for the Gap’s 10K which you will need to answer the answers below. http://www.gapinc.com/content/attachments/gapinc/GPS%202014%20Annual%20Report.pdf Locate your selected company’s annual report by going to the company’s website and..
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