Kati Ltd. issued 8,000, 9% Debentures of ₹ 100 each at a discount of 10%. The full amount was payable on application. Applications were received for 9,000 debentures and allotment was made on pro rata basis.

Pass the necessary entries for the above transactions in the books of Kati Ltd.

[Ans.: Discount on issue of Debentures – ₹ 80,000; Excess amount refunded – ₹ 90,000.]

Anurag Pathak Changed status to publish October 7, 2023
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