X Ltd. invited applications for issuing 1000, 9% debentures of Rs.  100 each at a discount of 6%. Applications for 1,200 debentures were received. Pro-rata allotment was made to all the applicants.

Pass necessary Journal Entries for the issue of debentures assuming that the whole amount was payable with applications.

Marks-1, CBSE:2016-17/Main-DL/Q-4

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