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Invest4U (Pty) Ltd is a company with a December financial year-end. To raise capital...

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Accounting

Invest4U (Pty) Ltd is a company with a December financial year-end.
To raise capital for an expansion project the company's board of directors approved
the issue of debentures to the public.
On 1 July 2023, Invest4U (Pty) Ltd issued 15010% debentures with a principal value
of R5000 each. Transaction costs amounting to R1800 were incurred with the issue
of the debentures. The transaction cost was paid for in cash.
The interest on the debentures is payable bi-annually in arrears, starting 31 December
The debentures are redeemable on 30 June 2028 at a premium of R20 each.
REQUIRED:
Prepare extracts from the statement of profit or loss and other comprehensive income
for the year ended 31 December 2024 and the statement of financial position as at
31 December 2024 for Invest4U (Pty) Ltd showing all the balances relating to the
debentures.
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