[ISC] Q. 7 solution of Issue of Debentures TS Grewal Class 12 (2022-23)

Solution of Question number 7 of the Issue of Debentures Chapter of TS Grewal Book ISC Board 2022-23 session?

Cane Ltd. issued 10,000; 10% Debentures of ₹ 100 each at a discount of 10% payable ₹ 25 on application and balance on allotment. Pass Journal entries in the books of Cane. Ltd.

Solution:-