Nano Ltd. purchased assets of Dow Ltd. for Rs.  3,00,000. It also agreed to take over the liabilities of Dow Ltd. amounting to Rs.  50,000 for a purchase consideration of Rs.  2,75,000. The payment to Dow Ltd. was made by issue of 8% Debentures of Rs.  50 each at a premium of 10%.

Pass necessary journal entries for the above transactions in the books of Nano Ltd.

Marks-3, CBSE:2018-19/Main/03/Q-9*