Q. 6 solution of Issue of Debentures Chapter TS Grewal Book Class 12 2021-22

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Solution of Question number 6 of the Issue of Debentures Chapter of TS Grewal Book 2021-22 Edition for the 2021-22 session?

Alok Ltd. issued 7,000, 10% Debentures of ₹ 500 each at a premium of ₹ 50 per debenture redeemable at a premium of 10% after 5 years. According to the terms of issue, ₹ 200 was payable on application and balance on allotment.

Record necessary Journal entries at the time of issue of 10% Debentures.

Solution:-

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