On 1st April, 2024, Varsha Ltd. purchased from Rama Ltd., furniture at ₹12,00,000 and machinery at ₹20,00,000. It also took over its liabilities amounting to ₹3,00,000. The purchase consideration of ₹35,00,000 was paid by issuing a bank draft of ₹2,00,000 and the balance by issue of 11% Debentures of ₹100 each, at a premium of 10%.

Pass necessary journal entries for the above transactions in the books of Varsha Ltd. 

Marks-3, CBSE: 2024-25/Zone-7/Set-1/Q-19*