Question - 37 (A)

X Ltd. Purchased a machinery from Y Ltd. at an agreed purchased consideration of Rs. 4,40,000 to be satisfied by the issue of 12% debenture of Rs. 100 each at a premium of Rs. 10 per debenture journalize the transactions.

Question - 37 (B)

A building has been purchased for Rs. 1,10,000 from 'X' has been issued 12% debentures of Rs. 100 in purchase consideration at a premium of 10%.

Journalize the above transaction.

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