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     EduGorilla 
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    XYZ Co. Ltd., issued 10000 10% debentures of Rs.100 each at a premium of Rs.5 payable as follows On application Rs.40, on Allotment Rs.65 (including premium) All the debentures were subscribed and money was received, What journal entry is to be recorded at the time of allotment?

    Options :-

    1. 10% Deb allotment a/c         Dr.  650000
        To Debenture a/c                            600000
      To Discount  a/c                   50000

    2. 10% Deb allotment a/c          Dr.  650000
        To Debenture holder  a/c                 600000
          To Security Premium a/c     50000

    3. 10% Deb allotment a/c          Dr.  650000
                  To Debenture a/c                 500000
         To Security Premium a/c  150000

    4. 10% Deb allotment a/c           Dr.  650000
                            To Debenture a/c         600000
          To Security Premium a/c  50000

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