Question - 28

A ltd. issued 4,000, 9% debentures of Rs. 100 each on the following terms:

Rs. 20 on application, Rs. 20 on allotment, Rs. 30 on first call and Rs. 30 on final call.

The public applied for 4,800 debentures Applications for 3,600 debentures were accepted in full applications for 800 debentures were allotted 400 debentures and applications for 4000 debentures were rejected pass necessary journal entries.

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