Youth Ltd. took a loan of ₹ 15,00,000 from State Bank of India against
the security of tangible assets. In addition to principal security, it
issued 10,000 11% debentures of ₹ 100 each as collateral security.
Pass necessary journal entries for the above transactions, if the
company decided to record the issue of 11% debentures as
collateral security and show the presentation in the Balance Sheet
of Youth Ltd.
In the Books of Youth Ltd.