X limited issued 10000 12 debentures of s100 each payable, Ask an Expert

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X Limited Issued 10,000, 12% debentures of S100 each payable $40 on application and $60 on allotment. The public applied for 14,000 debentures. Applications for 9,000 debentures were accepted in full; applications for 2,000 debentures were allotted 1,000 debentures and the remaining applications, were rejected. All money was duly received. Journalise the transactions.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91979490

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