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Home / Questions / Morton Ltd had on issue $5,000,000 10% unsecured notes at 30 June 2011. Following a good ...

Morton Ltd had on issue $5,000,000 10% unsecured notes at 30 June 2011. Following a good year, the company had surplus cash at its disposal. On 31 March 2012 it took the opportunity to re-purchase $3

Morton Ltd had on issue $5,000,000 10% unsecured notes at 30 June 2011. Following a good year, the company had surplus cash at its disposal. On 31 March 2012 it took the opportunity to re-purchase $3,000,000 of its unsecured notes at a price of $103 for each $100 note.
Required:
Prepare general ledger accounts as at 30 June 2012 to record the above.

Jun 25 2020 View more View Less

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