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Journalize the following transactions at the time of issue of debenture of $100.

<p><strong>Case1.   A debenture issued at $95, repayable at $100.</strong></p> <p><strong>Case2.   A debenture issued at $95, repayable at $105.</strong></p>

Accounting Cost Accounting Financial Accounting Journal Entries managerial accounting
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Question added by VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.
Date Posted: 2014/12/05
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Malik Khalid Mahmood
by Malik Khalid Mahmood , Regional Finance Manager , Leosons International FZ LLC

Case1

At time of issuance

          Bank                                        95

          Discount on issue                   5

                                  Bonds payable                                 100

 

At time of Redemption

           Bonds Payable               100

                              Bank                                   100

 

Case2

At time of issuance 

Bank                                  95

Discount on Issue            5

                   Debenture payable                    100

 

At time of redemption

Bonds Payable                                  100

Premium on Redemption                    5             

                        Bank                                                     105

Alex Al Yazouri
by Alex Al Yazouri , General Manager , Al Mushref Cooperative Society

Agree with Mr. Mahmood.

mehfooz alam khan habib khan
by mehfooz alam khan habib khan , Security Incharge , Landmark Group (Emax)

Agree with already given answer..... ................

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