X Limited issued for subscription 5,000 debentures of ₹100 each at a discount of 3%. The whole of the issue offered was underwritten by Pal & Co., commission being 2.5% on nominal value. The public subscribed ~ 4,00,000 worth of debentures balance being allotted to Pal & Co., who on subsequent date released their holdings in the market. The company took power to issue additional debentures worth ₹50,000 which were issued to its bank as collateral security against a loan of ₹40,000. Show the entries in the Cash Book and Ledger of the company and show how the entries would appear in the Balance Sheet.