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QUESTION 3: ACCOUNTING FOR FINANCIAL INSTRUMENTS (TOTAL: 10 HARKS] 1. Abacus Property Ltd bought shares in Texas Instruments on 15 August 2017 for $8?,000. The intent of this investment was to make a gain. 0n 1 January 2020 the shares had a fair value and were recorded at $101,000. By the end of the year their fair value had fallen to $47,000. Record the appropriate journal entries for the year ending 31 December 2020. Type in any workings or justications to the journal entries here 2. Abacus Property Ltd also bought govemment bonds of the Kingdom of Enchancia for $2,000.333 accounted for using amortised cost on 1 January 2020. Due to uncertaintyr around royal succession, Abacus estimates that there is a 5% chance of default in the next 12 months which would result in a cash shortfall of $1 00,000 and a 10% chance of cash shortfall of $1 ,000.000. Record the appropriate journal entries for the year ending 31 December 2020. (3 marks} Type in any workings or justications to the journal entries here 3. Following from 2 above. explain how this differs from the measurement of most other accounting values and whether you view this as consistent with the conceptual framework. (5 marks}| Type in your answer here