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Calculate the amount of interest received

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Reference no: EM132907554

Tourmaline Bhd purchased debentures for its fair value of RM2,100,000 in 1 January 2020. The debentures are due to mature on 31 December 2024. The principal amount of the debentures is RM2,625,000. The fixed interest of the debentures is 5.32% that is paid annually whereas, the effective rate of interest is 8%.

Required:

Problem i. Calculate the amount of interest received in 2020 and 2021.

Problem ii. Determine the amortised cost at the end of 2020, 2021 and 2023.

Reference no: EM132907554

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