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l Accounting Help Save& ExltSub Check my wor Exercise 10-20 Accounting for long-term liabilities under IFRS LO C1 e following information for its Loans and Borrowings as of December 31, 2015, including proceeds and repayments for the year ended December 31, 2015 (euros in millions). Loans and borrowings (noncurrent liabilities) Loans and borrowings, December 31, 2015 Proceeds (cash) from issuances of loans and borrovings Repayments (in cash) of loans and borrowings 10, 658 1,888 (1,753) 1. Prepare Heineken's journal entry to record its cash proceeds from issuances of ts loans and borrowings for 2015. Assume that the par value of these issuances is 1,900. 2. Prepare Heineken's journal entry to record its cash repayments of its loans and borrowings for 2015. Assume that the par velue of these issuances is 1,700, and the premium on them is 24. 3. Compute the discount or premium on its loans and borrowings as of December 31, 2015, assuming that the par value of these liabilities is 10,000. 4. Given the facts in part 3 and viewing the entirety of loans and borrowings as one issuance, was the contract rate on these loans and borrowings higher or lower than the market rate at the time of issuance? (Assume that Heineken's credit rating has remained the same.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare Heineken's journal entry to record its cash proceeds from issuances of its loans and borrowings for 2015. Assume International Account tional Accounting Help Save &Exit Submit 10 Check my work 1. Prepare Heineken's journal entry to record its cash proceeds from issuances of its loans and borrowings for 2015. Assume that the par value of these issuances is 1,900 2. Prepare Heineken's journal entry to record its cash repayments of its loans and borrowings for 2015. Assume that the par value of these issuances is 1,700, and the premium on them is 24 3. Compute the discount or premium on its loans and borrowings as of December 31, 2015, assuming that the par value of these liabilities is 10,000. 4. Glven the facts in part 3 and viewing the entirety of loans and borrowings as one issuance, was the contract rate on these loans and borrowings higher or lower than the market rate at the time of issuance? (Assume that Heineken's credit rating has remained the same.) ook int Complete this question by entering your answers in the tabs below Required 1 Required 2 Required 3Required 4 Given the facts in part 3 and viewing the entirety of loans and borrowings as one issuance, was the contract rate on these loans and borrowings higher or lower than the market rate at the time of issuance? (Assume that Heineken's credit rating has remained the same.) The contract rate is higer or lower than the market rate at the time of issuance C Required 3 Prev 8of 10/42L /Next

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