A Ltd issued 2500 9% Debentures of Rs 100 each on April 01, 2018 redeemable at a premium of 8% after 3 years. According to the terms of the prospectus Rs. 40 is payable on application and the balance on allotment of debentures, Record the necessary entries regarding issue of Debentures.
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Bank acc. dr. 2500*100
to debenture application acc
Debenture application acc dr.
to 9%debencture
debenture allotment acc dr.
to 9% debenture acc
to security premium reserve
bank acc dr
to debenture allotment acc
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