Question

Question no 81 of issue of shares class12 dk goel

Answer 1

Explanation:

Rise Ltd had issued 40,000, 8% debentures of Rs. 100 each redeemable

on 31st march 2015. It was decided to invest 15% of the face value of

debentures to be redeemed towards debenture redemption investment on

30th april 2014. Investments were encashed and debentures were

redeemed on due date. Record necessary journal entries for redemption of

debentures