Goodwill Ltd. issued 1,000 6% debentures of 100 each. Give the journal entries in each of the
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Goodwill Ltd. issued 1,000 6% debentures of ₹100 each. Give the journal entries in each of the following cases:
(a). The debentures are issued and redeemable at par.
(b). They are issued at a discount of 6%, but redeemable at par.
(c). They are issued at a premium of 5%, but redeemable at par.
(d). They are issued at a discount of 10%, but redeemable at a premium of 5%.
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a The debentures are issued and redeemable at par When debentures are issued and redeemable at par there is no discount or premium involved The journa...View the full answer
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