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Answer 1

Pro rata allotment means everyone got less Debentures for what they've applied for. e.g. person applying for 100 will get only 75.

Journal entries:

Bank account Dr. 13,50,000 (10,000 applications x 135)
To Debentures application and allotment account 13,50,000


Debentures application and allotment account Dr. 13,50,000
To 12% Debentures account 7,50,000 (7,500 debentures x 100 face value)
To Securities premium account 2,62,500 (7,500 x ₹35)
To Bank account 3,37,500 (Extra money received for 2,500 debentures refunded x ₹135)