ICT Co. Ltd. purchased assets worth Rs. 28,80,000. It issued debentures of Rs. 100 each at a discount of 4 per cent in full satisfaction of the purchase consideration. The number of debentures issued to vendor is:

30,000

Correct answer: Option (4) → 30,000

Concept: Issue of debentures to a vendor for consideration other than cash at a discount – Number = Purchase Consideration ÷ Issue Price, from Issue and Redemption of Debentures.

Issue price per debenture = Rs. 100 – 4% discount = Rs. 96.
Number of debentures issued = Purchase consideration ÷ Issue price = 28,80,000 ÷ 96 = 30,000 debentures.