X.Ltd. Purchased a Machinery from Y for an Agreed Purchase Consideration of Rs 4,40,000 to Be Satisfied By the Issue- Accountancy

X.Ltd. purchased a Machinery from Y for an agreed purchase consideration of Rs 4,40,000 to be satisfied by the issue of 12% debentures of Rs 100 each at a premium of Rs 10 per debenture. Journalise the transactions.

Date	Particulars		L.F.	Amount (Dr.)	Amount (Cr.)
	Machinery A/c	Dr.		4,40,000
	To Y’s A/c				4,40,000
	(Being Machinery Purchased from Y)
	Y’s A/c	Dr.		4,40,000
	To 12% Debenture A/c				4,00,000
	To Securities Premium A/c				40,000
	(Being Issued 4,000 debentures at premium of 10%)

Chapter-2 Issue and Redemption of Debentures-II

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