X Ltd. made the following issues of debentures:

1. For cash at 90% but repayable at 110% debentures of Rs.50,000.

2. To a creditor who supplied machinery costing Rs.10,00,000, 11,000 debentures of Rs.100 each.

3. To bank for a loan of Rs.21,00,000 as collateral security 30,000 debentures of Rs.100 each.

Journalize the transactions.

Answer rating: 100% (QA)

Solution 1 Cash Ac Dr 45000 To Debentures Ac 50000 Being debentures issued at 90 of face value 2 Mac... View the full answer