Delight Ltd. purchased assets worth ₹4,00,000 and took over liabilities of ₹70,000 of Marvel Ltd. for a purchase consideration of ₹3,60,000. Delight Ltd. paid the purchase consideration by issuing 11% debentures of ₹100 each at a premium of 20%.

Pass necessary journal entries in the books of Delight Ltd.

Marks-3, CBSE: 2024-25/Zone-1/Set-1/Q-19(a)