Question

The company may transfer higher amount to DRR.
ILLUSTRATION 16 (Debenture Redemption Reserve Investment Account)
A company issued + 10,00,000 12% debentures at paron April 1, 2014 redeemable at par in two equal
instalments on March 31, 2018 and March 31, 2019. The company decided to transfer to Debenture
Redemption Reserve minimum amount as required by law on March 31, 2015. The company made
the required investments on April 30, 2017 and April 16, 2018 respectively. The company sold the
investments on March 31, 2018 and March 31, 2019 respectively and redeemed the debentures on
the due dates. Pass journal entries, except the entries for interest on debentures, assuming rate of
interest on investments is 8% per annum.​

Answer 1

Answer:

kkakakakakkakalalalalalakslsajspdkakapjfs