Sarthaks Test
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R Ltd. purchased the assets of S Ltd. for Rs.5,00,000. It also agreed to take over the liabilities of S Ltd. amounted to Rs.2,00,000 for a purchase consideration of Rs.2,80,000. The payment of S Ltd. was made by issue of 9% Debentures of T, Rs.100 each at par. Pass necessary Journal entries in the books of A’ Ltd.

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Working Notes :

=2,800 debentures 

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