India. Ltd. made the following issue of 6% debentures For cash at 90%, 6,000 debentures of ₹ 100 each.

India. Ltd. made the following issue of 6% debentures:

(i) For cash at 90%, 6,000 debentures of ₹ 100 each.

(ii) 1,100 debentures of ₹ 100 each to a creditor regarding machinery costing ₹ 1,00,000.

(iii) To bank for a loan of ₹ 7,00,000 as collateral security 10,000 debentures of ₹ 100 each.

Pass Journal entries for first year only. All capital losses are to be written off in the first year itself.