pass journal entries in the books of sharda ltd. when the company issued 5000, 7% debentures of ₹100 each at a discount of 6%. Ignore writing off discount on issue of debentures.
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bank A/C.... Dr. (5000×94) 4,70,000
to debenture application and allotment 4,70,000
debenture application and allotment 4,70,000
discount on issue of debenture 30,000
to 7% debenture 5,00,000
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