You are a financial manager at Bigtime Limited (Bigtime), a Cape Town based company listed on the JSE that runs an online betting hub focused on gaming and sports events in Southern Africa. During the year, a new Chief Operating Officer (COO) is appointed in order to help the entity capitalise on its new-found popularity sparked by the legacy of the COVID pandemic. At 30 June 2022, the reporting date, the following balances appeared in the trial balance of Bigtime: Land and Buildings 10 285 714 Investment in compulsory redeemable preference shares 2 057 143 Trade receivables 4 731 429 Cash Deposits 1 324 800 Finance lease creditors 3 641 143 Tax payable (SARS) 1 234 286 Debentures In order to finance the further expansion of the business, management resolved to issue debentures to the public. World Bet (Pty) Limited, an investor company, decided to purchase a portion of these debentures issued by Bigtime. On 1 July 2022 World Bet (Pty) Limited purchased 5 625 10% R350 debentures in Bigtime at a price of R308 per debenture. The debentures are redeemable on 30 June 2024 at par value. Transaction costs amounted to R9 450. Interest is payable annually in arrears