Dolphin Limited issue 2000 10% of rupees hundred each on 1st April 2007 redeemable at par on 30th June 2018 out of profit. The issue was fully subscribed. The company decided to create the debenture redemption reserve on 30th April 2018 and also decided to invest in 10% government securities to meet the legal requirements. Necessary journal entries at the time of issue of redemption of debentures. Assume that the interest was payable on debenture on 31st March every year.
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