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Tulip Ltd. Issued Rs.4,00,000, 9% Debent...

Tulip Ltd. Issued Rs.4,00,000, 9% Debentures of Rs.100 each on April 1, 2014 at a premium of 6% redeemable at a premium of 10% on 31st March, 2018. Assume that required investment was made in 10% Government Securities on April 30 of the financial year in which redemption is due. Debentures were redeemed on the due date.
Pass journal entries at the time of Issue and Redemption of Debentures.

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