Question - 30

On 1st January, 1998 A Ltd. issued 1000, 12% debentures of Rs. 100 each at par redeemable at par and offered the holders option to convert their holding into equity shares of Rs. 10 each at par after 31st Dec., 2000. On 1st January, 2001, 45% holders exercised their option. Give journal entries on 1st jan., 2001.

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