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Make a general journal template based on the information

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Reference no: EM132679340

On 1 August 2020, Candy Ltd issued a disclosure document inviting applications for 10,000 of $80 debentures at par, payable in full on application.

  • The debentures carry an 8% annual interest charge and will be redeemed at nominal value in 5 years. The interest payment is made semi-annually on 31 December and 30 June each year.
  • By 30 September 2020, Candy Ltd received application money for 11,000 debentures.
  • On 1 October 2020, Courtney Ltd issued 10,000 debentures and refunded monies to 1,000 unsuccessful applicants.

Required:

Problem 1: Prepare a general journal template based on the information , for Candy Ltd for the year ended 30 June 2021. Include a narration.

Reference no: EM132679340

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