X Ltd. issued 5,000, 12% Debentures of ₹ 100 each at a premium of ₹ 5 payable as follows: On Application ₹ 30

X Ltd. issued 5,000, 12% Debentures of ₹ 100 each at a premium of ₹ 5 payable as follows:

On Application	₹ 30
On Allotment	₹ 40 (including premium)
On 1st and Final Call	The balance amount

Applications were received for 6,000 debentures and allotment was made pro-rata to all applicants. All the moneys were duly received. Pass necessary journal entries. [Ans. Cash at Bank ₹ 5,25,000. Cash received on allotment ₹ 1,70,000 and on first call ₹ 1,75,000.]