Nano Ltd. purchased assets of Dow Ltd. for Rs. 3,00,000. It also agreed to take over the liabilities of Dow Ltd. amounting to Rs. 50,000 for a purchase consideration of Rs. 2,75,000. The payment to Dow Ltd. was made by issue of 8% Debentures of Rs. 50 each at a premium of 10%.
Pass necessary journal entries for the above transactions in the books of Nano Ltd.