Excel Ltd. made the following issues of debentures on 1.4.2007 :
• 200 10% debentures of Rs. 100 each to settle a creditor who
supplied a machine on credit some time ago at a price of
Rs. 18,000.
• 300 10% debentures of Rs. 100 each for cash at a discount
of 5%.
• 1,000 10% debentures of Rs. 100 each to the bankers as
collateral security for a loan of Rs. 80,000.
All the above issues are redeemable at par. Pass journal entries
to record the above in the books of the company.
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What is your question dear friend........................... hi
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what is ur question dear friend
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