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Ok here’s the question:
A company issues 4% loan notes with a nominal value of $20,000.
The loan notes are issued at a discount of 2.5% and $534 of issue costs are incurred.
The loan notes will be repayable at a premium of 10% after 5 years, the effective rate of interest is 7%.
What amounts will be shown in the income statement and statement of financial position for years 1-5?- Topics: 16
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its from the kaplan text
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