Q 7 (Max Marks: 10) Manex Ltd. issued $700,000, 6% ten year debentures at a price of 110 on 1 July 2016 Required: Journalise the following transactions for Manex Ltd. IInclude an explanation for each entry i)Issue of the debentures on 1 July 2016 ii) Accrual of interest expense & amortisation of debenture premium on 31 December 2016. Manex uses the straight line method to amortise the premium (Marks: 2) (Marks: 4) (Marks: 1) ii) Payment of half yearly interest on 1 January 2017. iv) Report Debenture payable, interest payable & debenture premium as they would appear on Manex Ltd.'s balance sheet on 31 December 2016. (Marks: 3)