Sarthaks Test
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Alok Ltd. issued 7,000, 10% Debentures of Rs.500 each at a premium of Rs.50 per debenture redeemable at a premium of 10% after 5 years. According to the terms of issue, Rs.200 was payable on application and balance on allotment. Record necessary Journal entries at the time of issue of 10% Debentures.

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Journal Entries

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