Question - 20

On 1st January, 1998 B Ltd. issued 1,000, 12% debentures of Rs. 100 each at a discount of 5% redeemable at 10% premium after 4 years the company took an insurance policy of Rs. 1,10,000 for the redemption of debentures and paid Rs. 25,000 as annual premium at the end of 4th year the policy amount was received and the debentures were redeemed give the necessary ledger account.

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