Bright Ltd. issued 5,000; 10% Debentures of ₹ 100 each on 1st April, 2022. The issue was fully subscribed As per the terms of issue, interest on the debentures is payable half-yearly on 30th September and 31st March

Bright Ltd. issued 5,000; 10% Debentures of ₹ 100 each on 1st April, 2022. The issue was fully subscribed As per the terms of issue, interest on the debentures is payable half-yearly on 30th September and 31st March.

Pass necessary Journal entries related to the debentures interest for the year ending 31st March, 2023 and transfer of interest on debentures of the year to the Statement of Profit & Loss.