Q$\mathrm{.}4.$ On $1^{st}$ January, $2013$ XYZ Limited issued $10,000$ fifteen years debentures of $100$ each bearing interest at $10\%$ p$.$a$.$ One of the conditions of issue was that the company could redeem the debentures by giving six month's notice at any time after $5$ years, at a premium of $4\%,$ either by payment in cash or by allotment of preference shares and $/$ or other debenture at the option of the debentureholders.

On $1^{st}$ April, $2018$ the company gave notice to the debentureholders of its intention to redeem the debentures on $1^{st}$ October, $2018$ either by payment in cash or by allotment of $11\%$ preference shares of $100$ each at $130$ per share or $11\%$ second Debentures of $100$ at $96$ per debenture.

Holders of $4,000$ debentures accepted the offer of the preference shares; holders of $4,800$ debentures accepted the offer of the $11\%$ second debentures and the rest demanded cash on $1^{st},$ October, $2018.$

Required:

Give the journal entries to give effect to the above as of $1^{st}$ October, $2018.(20$ marks$)$