R.Ltd. Offered 20,00,000, 10% Debenture of Rs 200 each At a Discount of 7% Redeemable at Premium -Accountancy

R.Ltd. offered 20,00,000, 10% Debenture of Rs 200 each at a discount of 7% redeemable at premium of 8% after 9 years. Record necessary journal entries in the books of R. Ltd.

Books of R. Ltd.

Journal

Date	Particulars		L.F.	Amount (Dr.)	Amount (Cr.)
	Bank A/c	Dr.		37,20,00,000
	To 10% Debenture Application and Allotment A/c				37,20,00,000
	( Being money received for 10% Debenture Application and Allotment for 20,00,000 shares @ Rs 193 each )
	10% Debenture Application and Allotment A/c	Dr.		37,20,00,000
	Discount on Issue of Debenture A/c	Dr.		3,20,00,000
	Loss on Issue of Debenture	Dr.		2,80,00,000
	To 10% Debenture A/c				40,00,00,000
	To Premium on Redemption of Debenture				3,20,00,000
	(Being Allotment of 20,00,000 debenture @ Rs 200 each at 7% discount and at the time of redeemable with  8% premium on redemption)

Chapter-2 Issue and Redemption of Debentures-II

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