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Solution - Issue of Debentures with Terms of Redemption

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Question

On 2.3.2016 L and B Ltd. issued 635, 9% debentures of Rs.500 each. Pass necessary journal entries for the issue of debentures in the following situations:

(a) When debentures were issued at 5% discount, redeemable at 10% premium.

(b) When debentures were issued at 12% premium, redeemable at 6% premium.

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Solution for concept: Issue of Debentures with Terms of Redemption. For the courses CBSE (Arts), CBSE (Commerce), CBSE (Science)
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