Gujrat Ltd issue 600,000 ,9% debentures of 1000 each payable on application 300 and on allotment 700 - Accountancy - Issue and Redemption of Debentures

Question

Gujrat Ltd issue 600,000 ,9% debentures of 1000 each payable on
application ?300 and on allotment ?700 The debentures were fully
subscribed and all the money was duly received As per terms of
issue the debentures are rede enable at 1100 per debenture Pass
journal entries

Rashi Lokwani · Accepted Answer

Dear Student,
Please find the solution to your question in the following
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Regards

Gujrat Ltd.issue 600,000 ,9% debentures of 1000 each payable on application ?300 and on allotment ?700 . The debentures were fully subscribed and all the money was duly received . As per terms of issue the debentures are rede enable at 1100 per debenture. Pass journal entries