Answer:
JOURNAL
Date Particulars LF Amt (Dr) Amt (Cr) Bank A/c \[(20,000\times 30)\] Dr 6,00,000 To Debenture Application A/c 6,00,000 (Being the application money on 20,000 debentures @ Rs. 30 received) Debenture Application A/c Dr 6,00,000 To 9% Debentures A/c 6,00,000 (Being the debenture application money transferred to debentures account) Debenture Allotment A/c \[(20,000\times 66)\] Dr 13,20,000 Discount on Issue of Debentures A/c \[(20,000\times 4)\] Dr 80,000 To 9% Debentures A/c \[(20,000\times 70)\] (Being the allotment money due on 20,000 debentures) 14,00,000 Bank A/c Dr 13,20,000 To Debenture Allotment A/c 13,20,000 (Being the amount received on allotment)
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