33 :- S. Singh Limited obtained loan of Rs 5,00,000 from State Bank of India @ 10% p.a. interest. The company issued Rs 7,50,000, 10% Debentures of Rs 100 each in favour of State Bank of India as Collateral Security. Pass necessary Journal entries for the above transactions:
(i) When company decided not to record the issue of 10% Debentures as Collateral Security.
(ii) When company decided to record the issue of 10% Debentures as Collateral Security.
Solution :-
