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Question 1 (8 marks) On 1 January 2020, Halo Limited purchased a 9% $900,000 bond as its debt investment. 1. Halo purchased the bond at

Question 1 (8 marks) On 1 January 2020, Halo Limited purchased a 9% $900,000 bond as its debt investment. 1. Halo purchased the bond at $833,474. 2. The bond provides bondholders with a 11% yield per annum. 3. The bond matures on 31 December 2024, with interest receivable on 31 December each year. 4. Halos business model for the bond is held-for collection. Required (Answers round to the nearest dollar): Prepare journal entries for Halo in 2020 and 2021.

(8 marks)

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