On 31st March, 2022, W Ltd., an unlisted company, not being a NBFC or HFC, had the following balances in its books:
On that date, the company transferred ₹ 30,000 to Debentures Redemption Reserve. It redeemed debentures of ₹ 3,00,000 on 30th June, 2022. Pass necessary Journal entries in the books of the company for the above.
|Debenture Redemption Reserve||30,000|
|Surplus, i.e., Balance in Statement of Profit & Loss||3,00,000|