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4. On 1 November 2022, Sungura Ltd sold an 11 per cent corporate bond of TZS
st
5,000,000 to Borakupata Ltd at 90 ex-interests. Sungura purchased these stocks on
31 Dec. of the previous year at TZS 4,800,000. Interest is received semi-annually
st
every year, on 30 June and 31 December.
th
st
Required: Record the investment transaction of Sungura Ltd in the books of accounts,
FOR ONLINE READING ONLY
and then determine whether the company got profit or loss from such
transactions.
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Student’s Book Form Five
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