Bright Ltd. issued on 1st January, 2012 10,000, 6% debentures of 100 each at par repayable at the end of 4 years at a premium of 10%. It was decided to create a debenture redemption fund for the redemption of debentures. Investments are expected to earn interest at 5% реr аппит. Reference to the sinking fund table shows that 0.232012 invested annually at 5% compound interest amounts to 1 at the end of 4 years. Investments were made in multiples of 100 only. On 31-12-2015 investments were sold for 8,05,000 and the debentures were redeemed. Give journal entries and show ledger accounts except for debenture interest. Assume that accounts are closed on 31st December
