On 1 January 2018 Dodgy Ltd issued $8 million in 5-year debentures that pay interest every 6 months at a coupon rate of 12% per annum At the time of issuing the securities, the market required a rate of return of 16%. Interest expense is determined using the effective interest method. REQUIRED: i) ii) Prepare journal entries to record

Sep 8, 2023

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On 1 January 2018 Dodgy Ltd issued $8 million in 5-year debentures that pay interest every 6 months at a coupon rate of 12% per annum At the time of issuing the securities, the market required a rate of return of 16%. Interest expense is determined using the effective interest method. REQUIRED: i) ii) Prepare journal entries to record
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