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Deepak Ltd. purchased furniture of Rs.2,20,000 from M/s. Furniture Mart. 50% of the amount was paid to M/s. Furniture Mart by accepting a Bill of Exchange and for the balance the company issued 9%Debentures of Rs.100 each at a premium of 10% in favour of M/s. Furniture Mart. Pass Journal entries in the books of Deepak Ltd.

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Working Notes:

= 1,000 debentures 

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