22 :- Exe Ltd. purchased assets of the book value ₹ 4,00,000 and took over the liabilities of Rs 50,000 from Mohan Bros. It was agreed that the purchase consideration, settled at Rs 3,80,000, be paid by issuing debentures of Rs 100 each. Pass Journal entries if debentures are issued: (a) at par, (b) at a discount of 10% and (c) at a premium of 10%. It was agreed that any fraction of debentures be paid in cash.
Solution :-
