X Ltd. borrowed ₹25,00,000 from a scheduled bank at an annual interest rate of 12% and deposited 14% debentures of the face value of ₹40,00,000 as collateral security. Pass the journal entries regarding the issue of debe

CS Executive · Company Accounts & Auditing Practices · PYQS · December 2013
X Ltd. borrowed ₹25,00,000 from a scheduled bank at an annual interest rate of 12% and deposited 14% debentures of the face value of ₹40,00,000 as collateral security. Pass the journal entries regarding the issue of debentures as collateral security and also show the above items in the company's balance sheet.

Topics: Company Accounts

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