Question: hfac332 please help this is specific financial reporting ifrs Twomatic Trucks Ltd is a truck dealer who leases out trucks. During the financial year that

hfac332 please help this is specific financial reporting ifrs

Twomatic Trucks Ltd is a truck dealer who leases out trucks. During the financial year that ended on 28 February 2023, Twomatic Trucks Ltd leased out a truck to a customer for whom the truck was too expensive to buy. Details regarding the truck: Details of the finance lease that commenced on 1 March 2022 are as follows: The market rate of interest is 9.50% p.a. Twomatic Trucks Ltd received the lease payment due on 28 February 2023. REQUIRED: Prepare the general journal entries required in the records of Twomatic Trucks Ltd to account for the lease for the year ended 28 February 2023. Dates are required. Narrations can be ignored. lgnore all taxes. Show all workings. Round off to the nearest Rand. (25 marks)

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