On 1st April, 2021 the following balances appeared in the books of Blue & Green Ltd., an unlisted (Non-NBFC/HFC) company;
The company met the requirements of Companies Act, 2013 regarding Debentures Redemption Reserve and Debentures Redemption Investments and redeemed the debentures. Ignoring interest on investments, pass necessary Journal entries for the above transactions in the books of company.
|12% Debentures (Redeemable on 31st August, 2022)||20,00,000|
|Debentures Redemption Reserve||1,00,000|