“UZ” Ltd. Purchased Plant and Machinery from Elk Machinery Ltd. for Rs 6,90,000. Elk Ltd. was paid by accepting a Draft of Rs 90,000 payable after three months and the Balance by Issue of 6 % Debentures of Rs 100 each at a Discount of 20 % . Pass necessary Journal Entries for the above transactions in the Books of “UZ” Ltd.
