On 1-4-2019, Z Ltd. issued 2,00,000, 6% debentures of 100 each at a discount
of 4% redeemable at a premium of 5% after three years. The amount was payable
as follows:-
On application 50 per debenture.
Balance on allotment
Record the necessary journal entries for issue of debentures. Books are closed on
31 March every year.
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