Question

B. XYZ Ltd. issued 200, 15% debentures of 100 each on January 1, 2016 at a discount of 10%
redeemable at premium of 10% out of profits. Give Journal entries at the time of
redemption of debentures if debentures are to be redeemed in lump-sum at the end of 4th
year. The Directors decided to transfer the required amount to Debenture Redemption
Reserve on 31st December, 2019. It was also decided to invest the required amount in
Debenture Redemption Investment.​

Answer 1

Explanation:

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Answer 2

Explanation:

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