Z Ltd. purchased machinery from K Ltd. Z Ltd. paid K Ltd as follows:

(i) By issuing 5,000 equity shares of Rs.  10 each at a premium of 30%.

(ii) By issuing 1000, 8% Debentures of Rs.  100 each at a discount of 10%.

(iii) Balance by giving a promissory note of Rs.  48,000 payable after two months.

Pass necessary journal entries for the purchase of machinery and payment to K Ltd. in the books of Z Ltd.

Marks-3, CBSE:2016-17/Main-DL/Q-9