Question - 13

Z Ltd. issued 2,000, 14% debentures of Rs. 100 each on April 01, 2010 at a discount of 10% redeemable at a premium of 10% in equal annual drawings in 4 years out of profits. Give journal entries both at the line of issue and redemption of debentures (Ignore the treatment of loss on issue of debentures and  interest).

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