Question

8. Aima Ltd. has 1,00,000, 12% Debentures of 100 each outstanding on April 1, 2015. It
purchased 5,000 own debentures at 96 as an investment on September 30, 2015. It kept
these debentures till March 31, 2016 on which date it cancelled them as it could not sell them.
Interest was paid on September 30 and March 31. Give Journal entries.​

Answer 1

Answer:

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