1) On 1 July 2014 Brianna Limited issued $2million in five year debentures that pay interest every six months at a coupon rate of 6%. At the time of issuing the securities the market required a rate of return of 4%.
(a) Determine the issue price
(b) Provide the journal entries for the debenture for the years ending 30 June 2015 and 2019.
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