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L&M entity raise funds by issuing zero coupon bonds at par on the first day of the current accounting period with a nominal value of
L&M entity raise funds by issuing zero coupon bonds at par on the first day of the current accounting period with a nominal value of $ The bonds will be redeemed after two years at a premium of $ The effective rate of interest is
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Explain and illustrate how the loan is accounted for in the financial statement of L& M Entity
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