Hemco Ltd. an unlisted (Non-NBFC (HFC) company issued 10,000; 10% Debentures of ₹ 100 each at par on 1st April, 2017 redeemable at 5% premium in three yearly instalments by draw of lots as follows:
The company complied with the legal requirement with respect to DRR and investment (made in Government Securities on 1st April). Pass Journal entries for Issue and Redemption of debentures.
|On 1st March, 2021||1,000 Debentures|
|On 1st August, 2021||2,000 Debentures|
|On 1st March, 2022||3,000 Debentures|