Question

ILLUSTRATIUN 22.
A Ltd. Company issued debentures of 1,00,000 which were issued as follows:
(1) For cash at 90%
*50,000 (Nominal)
(2) For creditor for 20,000
Capital Expenditure in satisfaction of his claim 325,000 (Nominal)
(3) To Bankers for a loan of 15,000 as
collateral security
$25,000 (Nominal)
The issue (1) and (2) are redeemable at the end of 10 years at par. Pass Journal
Entries (for first year only).​

Answer 1

Explanation:

your answer

the frist year in a $325.0000