Reference no: EM132980898

Question - Prepare entries in general journal form to record the following unrelated transactions:

a) Lindsay Ltd issued a prospectus inviting applications for 280,000 $100 8% debentures, payable in full on application. The issue was subscribed for in full by the closing date of 30 September.

b) Interest payments on the following debentures. 150,000 $100 5% debentures with interest paid semi-annually on 1 March and 1 September.

c) Burnley Ltd redeemed $7,500,000 worth of 8% debentures on their maturity date of 30 June.

d) Sharks Ltd issued 225,000 $100 9% Debentures on 1 January. Maturity date is 31 December. On 15 May the company purchased on the ASX 45,000 of the debentures at a price of $106.

e) Drucker Ltd issued 150,000 $100 7.5% Debentures on 1 April 2014 with interest payable semi-annually. On 1 December 2014, the company purchased on the ASX 55,000 of the debentures, at a price of $97. Record all transactions including the interest payments on 30 September 2014 and 31 March 2015.