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Vijay Laxmi Ltd. Invited applicatins for...

Vijay Laxmi Ltd. Invited applicatins for 10,000, 12% Debentures of ₹ 100 each at a premium of ₹ 70 per debentures. The full amount was payable on application.
Application were received for 13,500 debentures. Applications for 3,500 debentures were rejected and application money was refunded, Debentures were allotted to the remaining applications.
Pass necesseary Journal entries in the books of vijay Laxmi Ltd. for the above trnasactions.

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