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  3. jas ltd. sold $7,310,000 of 12% bonds, which were

JAS Ltd. sold $7,310,000 of 12% bonds, which were dated March 1,2023, on June 1,2023....

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Accounting

JAS Ltd. sold $7,310,000 of 12% bonds, which were dated March 1,2023, on June 1,2023. The bonds paid interest on September 1 and March 1 of each year. The bonds' maturity date was March 1,2033, and the bonds were issued to yield 14%. JAS's fiscal year-end was February 28, and the company followed IFRS.
On June 1,2024, JAS bought back $3,310,000 worth of bonds for $3,210,000 plus accrued interest.

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