M Ltd. issued 40,000 10% debentures of 10 each to the public at par, to be paid

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M Ltd. issued 40,000 10% debentures of ₹10 each to the public at par, to be paid ₹3 on application and the balance on allotment. Applications were received for 35,000 debentures. Allotment was made to all the applicants and the amount due was received.

Pass journal entries to record the transactions and show how they appear in the balance sheet of the company.

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Corporate Accounting

ISBN: 9789353160739

1st Edition

Authors: Anita Raman, P. Radhika

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