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     EduGorilla 
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    Vinod Limited issued 12%, 1,000 Debentures @ 100 each at a premium of 10%. What will be the first journal entry?

    Options :-

    1. Bank A/c Dr.   1,10,000

      To 12% Debentures App. & Allot. A/c   1,10,000


      (Being Application money received)

    2. Bank A/c Dr.    1,10,000

      To Debentures App. & Allot. A/c   1,00,000

      To Securities premium   10,000

    3. Bank A/c Dr.    1,00,000

      To Debentures App. & Allot. A/c   1,00,000

    4. 12% Debentures A/c Dr.    1,10,000


      To Debentures App. & Allot. A/c   1,10,000

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