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QUESTION $3($FINANCIAL INSTRUMENTS$)[$IAS$32,$ IFRS$9][30$ marks$]$

On $1$ January $2017,$ Munya Tsatsa $($Pty$)$ Ltd$,$ a company based in Lephalale purchased government bonds for R$1600000.$

The face value is R$1680000,$ and the coupon interest is $8\%$ per annum payable annually in arrears.

The government bonds are redeemable at face value in $3$ years.

The effective interest rate is $9\mathrm{.}9119\%$ per annum.

The company's intention was to hold government bonds to collect contractual cash flows and the return on capital and interest.

On $31$ July $2018,$ the company changed its business model $($the new business model become effective from this date$)$ relating to the government bonds. The fair value on this date was R$1850000$ and changed to R$1932000$ on $31$ December $2018.$

Credit risk has not increased significantly since recognition over the $3$ years and the asset was not credit impaired at any point.

The $12$ month expected credit losses were estimated as follows.

$\backslash$table$[[$Date$,12$ month expected credit loss$],[1$ January $2017,$R$56000],[31$ December $2017,$R$58000],[31$ July $2018,$R$84000],[31$ December $2018,$R$86000]]$

Required

Prepare all related journal entries in Munya $($Pty$)$ Ltd $\text{'}$s general journal for the $3$ years ended $31$ December $2017,2018,$ and $2019$ assuming that the government bonds were reclassified from amortised cost to fair value through profit or loss.

$[30]$

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