i) Kati Ltd. issued 8,000, 9% debentures of Rs 100 each at a discount of 10%. The full amount was payable on application. Applications were received for 9,000 debentures and allotment was made on pro-rata basis.
Pass the necessary journal entries for the above transactions in the books of Kati Ltd.
(ii) Sati ltd. Took loan from WTX bank for Rs 5,00,000 and issues 10% debentures of Rs 7,00,000 as collateral security.
Pass the necessary journal entries for the above transactions in the books of Sati Ltd.