Khandelwal Ltd. took over assets of Sharma Ltd. of ₹25,00,000 and liabilities amounting to ₹7,80,000 for a purchase consideration of ₹27,00,000. The payment to Sharma Ltd. was made by issuing 10% Debentures of ₹100 each at a discount of 10%.

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

Marks-3, CBSE:2021-22/Term-2/Zone-2/Set-1/Q-6*

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