Raja Ltd. issued 5,000; 9% Debentures of ₹ 100 each at a premium of ₹ 40 payable as follows:
- ₹ 40, including premium of ₹ 10 on application:
- ₹ 45, including premium of ₹ 15 on allotment; and
- Balance as first and final call.
The issue was subscribed and allotment made. Calls were made and due amount was received.
Pass Journal entries.
Solutions :
