57 :- Pass necessary Journal entries relating issue of Debentures and to write off discount/loss on issue of debentures in the books of Srijan Ltd. in the following cases :
(i) 900, 6% Debentures of Rs 1,000 each are issued at 5% discount and redeemable at par. Balance in Securities Premium Account is Rs 50,000.
(ii) 700, 8% debentures of Rs 1,000 each are issued at 10% discount and redeemable at a premium of 10. Balance in Secuirities Premium Account is Rs 1,00,000.
Solution :-
