what will be the journal entry for following:
Expenses on issue of debentures amounted to rs 5000 were to be written off.Pass journal entry.
Journal Entry | ||||||
Date | Particulars | L.F. | Debit Amount Rs |
Credit Amount Rs |
||
Debenture Issue Expenses A/c | Dr. | 5,000 | ||||
To Bank A/c | 5,000 | |||||
(Debenture Issue expenses paid) | ||||||
Profit and Loss A/c | Dr. | 5,000 | ||||
To Debenture Issue Expenses A/c | 5,000 | |||||
(Amount of Debenture Issue Expenses transferred to Profit and Loss account) | ||||||