Solution-Prepare journal entries to record the issue of

Prepare journal entries to record the issue of debentures

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Reference no: EM132976992

QUESTION - Merle Ltd issued a prospectus on 1 June 2021 inviting applications for 5,000 debentures of face amount $1,000, payable in full on application. Terms were 10% p.a. interest, payable annually, with a maturity date of 30 June 2024. Exactly the right amount of applications was received by 30 June 2021.

Required - Prepare journal entries to record the issue of debentures?

Reference no: EM132976992

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Prepare journal entries to record the issue of debentures

Reference no: EM132976992

Reference no: EM132976992

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