Question

5. Sunny Limited issued 7,500, 20% debentures of 7 100 each. The amount was payable as follows: 215
on application, * 25 on allotment and 360 on first and final call. All the debentures were applied for
and money was duly received. Manju, the holder of 100 debentures, paid the entire
amount on her
holdings on allotment and Beena, the holder of 200 debentures, failed to pay the allotment and first
and final call. Pass necessary Journal entries in the books of Sunny Limited.
Ans. Calls in Advance 36,000; Calls in Arrears 7 17,000.​

Answer 1

Answer:

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