Question 4 Part A - Bills Payable On the 1st of March 2018 Adelaide Ltd sold goods worth $40,000 on credit to Perth Ltd (terms 20 days). By the 31st of March 2018, Pert Ltd has still not repaid the amount and on the 1st of April 2018 agrees to convert the amount to a 180-day, 8% bill. Required: Record the entries to reflect these events (the acceptance of the bill, the adjusting entry and the payment of the bill at the maturity date). 44 BI iii Enter your journal entries to the table below: Description Date Debit Credit Question 4 Part B. Debentures On 1st July 2015 X Ltd issues $200 000 in 5-year debentures that pay interest annually at a coupon rate of 4%. At the time of issuing the securities, the market requires a rate of return of 6%. The interest expense is determined using the effective interest rate method. Required: This question has three parts. Answer Questions 4(i), 4(ii) and (ii) below: Question 4(1): Determine the issue price and prepare the relevant general journal entries for the issue. BI !!! Question 4(i) Part B - Debentures Prepare a table to assist with calculating interest expense and prepare the general journal entries for interest at the end of year 2 and 3. B1 Fill in the details in the table below: Question 4 (iii) Part B - Debentures Prepare the general journal entries for the redemption of the 5-year debentures. B 1 !!! om 45 * Enter your journal entries to the table below: Date Description Debit Credit