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Pass necessary journal entries in the following cases:(i) Z Ltd redeemed 1500, 12% debentures of Rs 100 each issued at a discount of 6% by converting them into equity shares of Rs 100 each issued at a premium of Rs 25 per share.(ii) X Ltd. converted 1,000, 12% debentures of Rs 100 each issued at a discount of Rs 10 per debenture into equity shares of Rs 100 each Rs 90 paid up.
