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A company issued 14% debentures of …

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A company issued 14% debentures of Rs.100 each for Rs.60000 at a discount of 4% redeemable after 3 years at a premium of 10%. Pass necessary journal entries for the issue of debentures.

Posted by Sanskar Kandoi 8 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Kamlesh Sharma 8 years, 1 month ago

Debentures application and allotment A/C Dr. ₹60000 Loss on issue of debenture A/C Dr. ₹8750 To 14% debentures A/c ₹62500 To premium on redemption of debenture A/c ₹6250

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