Question - 12

X Ltd. issued 5,000, 15% debentures of Rs. 100 each on 1 April, 2014 at a discount of 10% redeemable a premium of 10% in equal annual drawings in 4 years out of capital. Give journal entires both at the line of issue and redemption of debentures (Ignore the trearment of loss on issue of debentures and interest).

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