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Pass necessary journal entries and prepare …

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Pass necessary journal entries and prepare 9% Debentures Account for the issue of 7,500, 9% Debentures of 50 each at a discount of 6%, redeemable at a premium of 10%.
  • 1 answers

Tr Shanmugam 4 years ago

Bank a/c Dr 3,52,500 To 9%Debenture application & allotment a/c. 3,52,500 9%Debenture application & allotment a/c Dr3,52,500 Loss on issue a/c.Dr60,000 To 9% Debentures a/c 3,75,000 To premium on redemption a/c 37,500
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