Page 8 - LN ISSUE OF DEB

Bank A/c Dr.

To Debenture Application A/c

(Being Application money Received)

Debenture Application Dr.

To Debentures A/c

(Being Deb. Application money adjusted)

Debenture Allotment A/c Dr.

To Debentures A/c

(Being Allotment money due)

Bank A/c Dr.

To Debenture Allotment A/c

(Being Allotment money received)

Debenture First Call A/c Dr.

To Debentures A/c

(Being First call money due)

Bank A/c Dr.

To Debenture First Call A/c

(Being First Call money Received)

issue of debentures for consideration other than cash :

When Debentures are issued at par for purchase of asset:

Sundry Asset Account Dr.