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     EduGorilla 
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    Shining India Ltd. issued 5000, 8% Debentures of Rs.100 each payable as Follows Rs.20 on Application Rs.30 on Allotment Rs.50 on First and Final call All the debentures were applied for and allotted. All the calls were duly received. What will be the journal entry of First and final call received.

    Options :-

    1. Bank
      A/c                       3000000
      Dr                        300000
      To Debentures First and Final call A/c


    2. Bank
      A/c                                      250000
      Dr
      To Debentures First and Final call A/c  250000
      (being Debentures First and Final call money received)

    3. Bank                                 500000
      A/c                              Dr
      To Debentures First and Final call A/c  50000

    4. Bank A/c                 5000000
                                 Dr
      To Debentures First and Final call A/c  500000
                               Dr

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Reply To: Shining India Ltd. issued 5000, 8% Debentures of Rs.100 each payable as Follows Rs.20 on Application….
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