Ajanta Ltd. Decided to redeem $100000 …

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Ajanta Ltd. Decided to redeem $100000 ,12%debentures .It purchased $60000 debentures from open market at $95 per deb..The face value of each debenture was$100.the balance of $40000 debentures were redeemed out of profit
Company made provision for debenture redemption reserve
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