S. Singh Limited obtained loan of ₹ 5,00,000 from State Bank of India @ 10% p.a. interest
S. Singh Limited obtained loan of ₹ 5,00,000 from State Bank of India @ 10% p.a. interest. The company issued ₹ 7,50,000, 10% Debentures of ₹ 100 each in favour of State Bank of India as Collateral Security. Pass necessary Journal entries for the above transactions:
(i) When company decided not to record the issue of 10% Debentures as Collateral Secuity.
(ii) When company decided to record the issue of 10% Debentures as Collateral Security.
Anurag Pathak Changed status to publish October 9, 2023
