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  3. y a 5% loan note was issued on 1 april 2020 at its

y A 5% loan note was issued on 1 April 2020 at its face value...

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Accounting

y A 5% loan note was issued on 1 April 2020 at its face value of 20 million. Direct costs of the issue were 1,000,000. The loan note will be redeemed on 31 March 2023 at a substantial premium. The effective interest rate applicable is 10% per annum. At what amount will the loan note appear in the statement of financial position as at 31 March 2022? O 20.890,000 O 21,495.000 O 21,000,000 O 20,450,000

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