Ownclasses

Pass the necessary Journal entry when 10,000 debentures of Rs. 100 each are issued as collateral security against a Bank loan of Rs. 8,00,000.

Answer

Particulars

LF

Debit (Rs)

Credit (Rs)

 

Debenture suspense a/c                       Dr 
 
     To Debenture a/c
 

(Being 10,000 debentures of Rs 100 each  issued as a collateral security against a bank loan of Rs 8,00,000)

 

 

10,00,000

 

  

10,00,000