Question

on 1st April, 2014goodluck limited gave notice to redeem their outstanding 500000 ,12% debentures on 1st October 2016,at a premium of 5% . the company had a balance of 650000 at the credit of its statement of profit and loss. instead of declaring a devidend it was decided to untilise the profit to redeem the above debentures. give journal entries to redeem the above debentures​

Answer 1

Answer:

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Answer 2

Answer:

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