Question

On 1st April, 2017, ABC Co. (Unlisted company) issued 2,000, 8%

debentures of Rs. 100 each at a premium of Rs. 15, repayable at a premium

of Rs. 20. The terms of issue provided for the redemption of all the

debentures after 3 Years i.e. on 31st March 2020. The company created the

required DRR (Debenture Redemption Reserve) on 31.3.2019 and made

the required DRI ( Debenture Redemption Investment) on 30th April 2019.

The investments were encashed and the debentures were redeemed on the

due date.

You are required to pass Journal entries for Issue and redemption of

Debentures. (Ignore Interest on Debentures) and​

Answer 1

Answer:

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Explanation:

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