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please help *OMR is the currency* Sweet LLC has decided to issue bonds which have OMR 1,000,000 as par value and they were issue at
please help *OMR is the currency*
Sweet LLC has decided to issue bonds which have OMR 1,000,000 as par value and they were issue at 97 on 1st January 2017. Other than that, the due date for such bonds was in 2027. However, considering in mind regarding market rate, it has been decided by the Sweet LLC to call back its bonds for 104 and cancel them on 1st January 2022. Interest which was paid annually was 5%. It has been decided by the Sweet LLC to amortize the amount of discount on the basis of straight line method. a) Calculate the amount of Amortized and un-Amortized discount. (4 Marks) b) Pass journal entries from January 1, 2017 to January 1, 2022. (6 Marks)Step by Step Solution
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