9 :- Raja Ltd. issued 5,000; 9% Debentures of Rs 100 each at a premium of Rs 40 payable as follows:
(i) Rs 40, including premium of Rs 10 on application:
(ii) Rs 45, including premium of Rs 15 on allotment; and
(iii) Balance as first and final call.
The issue was subscribed and allotment made. Calls were made and due amount was received.
Pass Journal entries.
Solution :-
