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

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

Pine Tree Ltd. issued 75,000; 8% Debentures of ₹ 100 each, payable on application and redeemable at par any time after 6 years. Record necessary Journal entries for issue of debentures.

Solution:-