Answer:
JOURNAL
Date Particulars LF Amt (Cr) Amt (Cr) Bank A/c \[(8,000\times 150)\] Dr 12,00,000 To Debenture Application and Allotment A/c 12,00,000 (Being application money received on 8,000 debentures) Debenture Application and allotment A/c Dr 12,00,000 To 12% Debentures A/c \[(6,000\times 100)\] 6,00,000 To Securities Premium Reserve A/c \[(6,000\times 50)\] 3,00,000 To Bank a/c \[(2,000\times 150)\] 3,00,000 (Being application money transferred to 12% debentures account and excess money refunded)
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