Question - 31

On 1st Jan., 1998 B Ltd. issued 2000, 12% debentures of Rs. 100 eahc at par redeemable at par and offered the holdres option to convert their holding into equity shares of Rs. 10 each at a premium of 20% after 31st Dec., 2000. On 1st Jan., 2001 40% holders exercised their option. Give journal entries on 1st Jan., 2001.

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