KM Ltd. acquired assets worth  ₹7,20,000 and took over liabilities of  ₹2,00,000 of LS Ltd. for a purchase consideration of  ₹9,60,000.  KM Ltd. issued 12% debentures of  ₹100 each at a discount of 4% in favour of LS Ltd. for payment of purchase consideration.   

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

Marks-3, CBSE: 2024-25/Zone-5/Set-1/Q-19(a)