Kitply Ltd. issued ₹ 2,00,000, 10% Debentures at a discount of 5%. The terms of issue provide the repayment at the end of 4 years

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Anurag Pathak24.20K December 12, 2023 0 Comments

Kitply Ltd. issued ₹ 2,00,000, 10% Debentures at a discount of 5%. The terms of issue provide the repayment at the end of 4 years. Kitply Ltd. has a balance of ₹ 5,00,000 in Securities Premium Reserve. Pass the Journal entries for issue of debentures and writing off the discount.

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