On 1st April, 2018, X Ltd. issued 7,500, 9% Debentures of ₹ 50 each at a discount of 6%, redeemable at a premium of 10%. Pass journal entries for the year ending 31st March

On 1st April, 2018, X Ltd. issued 7,500, 9% Debentures of ₹ 50 each at a discount of 6%, redeemable at a premium of 10%. Pass journal entries for the year ending 31st March 2019 and Prepare Debentures Account. (Ignore interest on Debentures).

[Ans. Loss on Issue of Debentures ₹ 60,000 will be written off from Statement of Profit and Loss]