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A listed company issued debentures of the face value of Rs. 5,00,000 at a discount...

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Accounting

A listed company issued debentures of the face value of Rs. 5,00,000 at a discount of 6% on April 01, 2014. These debentures are redeemable by annual drawings of Rs.1,00,000 made on March 31 each year starting from March 31, 2016. Give journal entries for issue of debentures, writing-off discount, and regarding redemption of debentures.

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