Mars Ltd. obtained an overdraft of ₹5,00,000 on 31 st March, 2016 from a bank by issuing and securing 6,000, 12% debentures of ₹100 each as collateral security. Show necessary journal entries and the entry in the balance

Journal entries in the books of Mars Ltd. Date Particulars Dr.(₹) Cr.(₹) 31/03/2016 Debenture Suspense A/c Dr. 6,00,000 To 12% Debenture A/c 6,00,000 (Issue of 6000, 12% debenture of ₹100 each as collateral security for overdraft of ₹5,00,000) Balance Sheet of Mars Ltd. as at 31 st March, 2016 Equity and Liabilities Note Amount (₹) (i) Non-Current Liabilities Long Term Borrowings 1 6,00,000 Current Liabilities Short term loan 2 5,00,000 (ii) Assets Non-Current Assets Other non-current Assets 3 6,00,000 Notes: Long term borrowings 6000, 12% Debentures of ₹100 each (Issued as collateral security as per contra) 6,00,000 Short term borrowings Bank Overdraft (Secured by the issue of 6000, 12% Debentures of ₹100 each as collateral security) 5,00,000 Other non-current assets Debentures Suspense Account (Issued as collateral security as per contra) 6,00,000