(1) Bank A/c Dr. 1,92,000
To Debenture Application A/c Dr. 1,92,000
(Being application money received from 2000 debenture @ Rs 96 each)
(2) Debenture Application A/c Dr. 1,92,000
Discount on Issue of Deb. A/c Dr. 8,000
Loss on Issue of Debenture A/c Dr. 10,000
To 9% Debenture 2,00,000
To Premium on Redemption of Debenture A/c 10,000
(Being 9% debenture issue at discount and provided for premium payable on redemption.)