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Make necessary journal entries in the books of the company

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Reference no: EM133151391

Question - Rifaá Ltd. issued numbers of Debentures at a price of BD 100. The interest rate is 8%. Payment for each is as follows: BD 20 on Application, BHD 30 on Allotment, BHD 50 on Final call.

Assume the following:

1. The numbers of debentures issued are similar to your last four numbers of the student's ID. 4816

2. All the debentures issued were applied for and allotted. All the calls were duly received.

Required - Make necessary journal entries in the books of the company.

Reference no: EM133151391

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