Mr shiv agrees to cancel debentures amounting to rs 200000 out of the total debentures due to him and agrees to accept 15% debentures for the balance amount due Can anyone explain me this entry. Becau

Question

Kanishk · Answer

Thank you so much 👍😊

Harinath · Answer

Old debenture A/C (in excess of debenture cancelled), Reconstruction A/C Dr 200000 and new issue debenture A/C cr

Keerthana · Answer

Since debenture is rceivable we debited it when we purchase it.when we cancelled it we receive the amount so we credited the old debenture and debited the bank account.new debenture purchased in return for that is also credited.

Keerthana · Answer

Bank A/c Dr: 200000. new debenture A/c Dr: balance amount. old debenture Cr

Chandani · Answer

Journal entry?

Mr shiv agrees to cancel debentures amounting to rs 200000 out of the total debentures due to him and agrees to accept 15% debentures for the balance amount due Can anyone explain me this entry. Becau

5 answers

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