M&N company issues $20 million of ten-year, 7 per cent, semi-annual coupon debentures to public which pay interest each six months. The market also requires a rate of return of 7 per cent. Assume that the monies come in and the debentures are allocated on the same day 30 June 2020. Required: a) Provide the accounting entries at 30 June 2020, 31 December 2020. Narrations are required. (4 marks) b) Discuss what factors may cause a debenture is issued at discount, premium and par value. (3 marks) (7 marks. Word limit for part b: minimum 120 to maximum 250 words)