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Gujrat Gas Itd. Issued 600000.9% debentures of Rs. 1000 each payable as follows
On application Rs.300
On allotment Rs.700
The debentures were fully subscribed and all the money was duly received. As per terms of
issue, the debentures are redeemable at Rs.1100 per debenture. Record necessary journal
entries regarding issue of debentures.
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