Question

9. On 1st January 2020, HP Ltd, had 10,000, 12% Debentures of 100 each. As per the provision
of the deed, the directors acquired in the open market the following debentures for
immediate cancellation: June 30, 2020, 2,000 debentures @ 98; December 31, 4,000
debentures @96. Debenture interest is payable half-yearly, on 30th June and 31st December.
Pass necessary journal entries (ignore interest and tax).​

Answer 1

Answer:

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