On 1 July 2021, Nelson Airport Limited issued $5,000,000

eight year debentures that pay interest every six months at a coupon rate of 10

per cent. At the same time of issuing the debentures, the market required a

rate of return of 12 per cent. Any discount or premium on issue is amortised

using the effective interest method. The journal entries to record the issue of

the debentures as at 1 July 2021. The journal entries to record payment of

interest and the changes in the debenture liability at 30