G.Ltd. Issued 75,00,000, 6% Debenture Of Rs 50 Each At Par Payable Rs 15 On Application and Rs 35 on Allotment-ACCOUNTANCY

G.Ltd. issued 75,00,000, 6% Debenture of Rs 50 each at par payable Rs 15 on application and Rs 35 on allotment, redeemable at par after 7 years from the date of issue of debenture. Record necessary entries in the books of Company.

Books of G.Ltd.

Journal

Date	Particulars		L.F	Amount (Dr.)	Amount (Cr.)
	Bank A/c	Dr.		11,25,00,000
	To 6% Debenture Application A/c				11,25,00,000
	( Being Application Money received for 75,00,000 Shares @ Rs 15 each )
	6% Debenture Application A/c	Dr.		11,25,00,000
	To 6% Debenture A/c				11,25,00,000
	( Being Debenture application money transferred to debenture Capital A/c )
	6% Debenture Allotment A/c	Dr.		26,25,00,000
	To 6% Debenture A/c				26,25,00,000
	( Allotment money due on 75,00,000 Shares @ Rs 35 each )
	Bank A/c	Dr.		26,25,00,000
	To 6% Debenture Allotment A/c				26,25,00,000
	( Being Allotment money received for 75,00,000 Shares @ Rs 35 each )

Chapter-2 Issue and Redemption of Debentures-II

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