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QUESTION TWO A. Explain main features of bonds (7 Marks) B. On...

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Accounting

QUESTION TWO
A. Explain main features of bonds (7 Marks)
B. On 01 March 2019, Bogota Limited issued $75,000 of 12%, Five year bonds at 110. The bonds were dated March 12019, and interest is payable on 01 March and 01 September. Bogota records amortisation using the straight line method. Bogota's Financial year ends on 31 December.
Required:
Provide all necessary journal entries on each of the following dates;
a)01 March 2019(2 Marks)
b)01 September 2019(2 Marks)
c)31 December 2019(2 Marks)
d)01 March 2024(2 Marks)
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