Aman Ltd. issued to the public 16,000, 10% Debentures of ₹ 100 each at a discount of 2%. The amount payable by applicants is as ₹ 50 per debenture along with application and balance amount at the time of allotment. The i

Journal of Aman Ltd. S. No. Particulars Rs. Rs. 1. Bank a/c Dr. 8,00,000 To 10% Debenture Application a/c 8,00,000 (being receipt of application money on 16,000, 10% Debentures of ₹ 50 per debenture) 2. 10% Debenture Application a/c Dr. 8,00,000 10% Debenture Allotment a/c Dr. 7,68,000 Discount of issue of Debenture a/c Dr. 32,000 To 10% Debenture a/c 16,00,000 (being allotment of 16,000, 10% debentures of ₹ 100 each at a discount of ₹ 2 per debenture) 3. Underwriting commission on issue of debenture a/c Dr. 16,000 To Gama Ltd. 16,000 (being underwriting commission @ 1% on ₹ 16 lakh, the nominal value of debentures underwritten) 4. Gama Ltd. a/c Dr. 16,000 To 10% Debentures a/c 16,000 (being allotment of 160, 10% debentures of ₹ 100 each at par to underwriters by way of payment of underwriting commission due to them) 5. Bank a/c Dr. 7,68,000 To 10% Debenture allotment a/c 7,68,000 (being receipt of allotment money on 16,000, 10% debentures @ ₹ 48 per debenture)