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Make journal entries for acquisition

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Question - ABC Ltd bought sh.2,000,000, 8% bonds in ED ltd on 1/1/2016 for a period of 5 years and was given a discount by ED Ltd and thus paid sh.922,780 for the bonds. Effective interest rate was 10% and interest is payable at year ends. Make journal entries for acquisition, interest receipt and redemption in the books of ABC Ltd?

Reference no: EM132751030

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