Manoj Kumar Pvt. Ltd issued a prospectus inviting applications for 1,00,000 shares of Rs 10 each at a premium of Rs 2.50 per share payable as follows : on Applicaton Rs 5, on Allotment Rs 5 (including premium), on First Call Rs 2.5. The company received applications for 1,50,000 shares, allotment was made on pro-rata basis. Over subscribed money received on application was adjusted with the amount due on allotment. Mr. Hemant to whom 200 shares were allotted failed to pay the allotment money and the first call. On his subsequent failure to Mohan as fully paid for Rs 9 per share. Pass necessary Journal entries in the books of company for recording the above transactions. OR On 1-04-2017, K.S Ltd issued 80,000, 9% Debentures of Rs 100 each at a discount of 10% redeemable at a premium of 5% after 3 years. The company closes its books on 31st March every year. Interest is payable on 30th September and 31st March every year.The rate of tax 10%. Pass necessary Journal entries for the issue of debentures and debenture interest for the year ended 31st March, 2018.