EF Ltd. invited applications for issuing 4000, 10% debentures of 100 2 each at a premium of 10 per debenture. The amount was payable as 2 follows: On…

Books of EF Ltd. JOURNAL Date Particulars L.F. Dr. Cr. Amount (₹) Amount (₹) Bank A/c Dr. $\displaystyle 1{,}60{,}000$ To Debenture Application A/c $\displaystyle 1{,}60{,}000$ (Application amount received on $\displaystyle 4{,}000$ debentures.) Debenture Application A/c Dr. $\displaystyle 1{,}60{,}000$ To $\displaystyle 10$% Debentures A/c $\displaystyle 1{,}60{,}000$ (Application amount transferred to debentures a/c.) Debenture Allotment A/c Dr. $\displaystyle 2{,}80{,}000$ To $\displaystyle 10$% Debentures A/c $\displaystyle 2{,}40{,}000$ To Securities Premium A/c $\displaystyle 40{,}000$ (Allotment amount due on $\displaystyle 4{,}000$ debentures including premium.) Bank A/c Dr. $\displaystyle 2{,}80{,}000$ To Debenture Allotment A/c $\displaystyle 2{,}80{,}000$ (Allotment amount received.)