QUESTION 3 (11 marks) Midrand Ltd acquired a 90% interest in Bramely Ltd on 2 December 20.21 for R2 million. The consideration was settled as follows: Cash payment, Issue of 100 000 shares to the seller Issue of debentures to the seller R 1000 000 650 000 450 000 Legal and other costs incurred in relation to the acquisition of the shares in relation to Bramely Ltd amounted to R126 000. Costs to issue the shares and the debentures amounted to R89 000 and R77 500 respectively. REQUIRED QUESTION 3 MARKS Prepare the relevant journal entries to record the above transactions. 11 Journal narrations are required Your answer should comply with the requirements of International Financial Reporting Standards (IFRS's).