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hello Sir
i dont understand the treatment of loan notes given in note ii.
plz explainCancel 2.5m of Pyramid’s investments against 2.5m long term debt in Square
Cancel 275,000 investment income in Pyramid against 275,000 finance costs in Square
?
OK?
ok Sir , we dont need profit and loss so second entry would be irrelevant for this question ?
Thank youYes, but you may need it in the exam so better safe than sorry!
You’re welcome
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