M Ltd. issued 10,000, 8% debentures of Rs 100 each at a premium of 10% and redeemable at a discount of 5% on 1.4.2019. It purchased sundry assets of the value of Rs 2,50,000 and took over the liabilities of Rs 60,000 and issued 8% debentures at a discount of 5% to the vendor. On the same date, it took loan from the bank for Rs 10,00,000 and issued 12,000 8% debentures as collateral security. Record the relevant journal entries in the books of M Ltd. Also prepare the extract of Balance Sheet on 31.3.2020. Ignore Interest.
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