Bharat Ltd. had an authorised capital of Rs. 20,00,000 divided into 2,00,000 equity shares of Rs. 10 each. The company issued 1,00,000 shares and the divident per share was Rs. 2 for the year ended 31st March, 2008. The management of the company decided to export its products to the neighbouring countries Nepat, Bhutan, Sri Lanka and Bangladesh. To meet the requirement of additional funds, the financial manager of the company put up the following three alternatives before its Board of Directors:
(i) Issue 54,000 equity shares.
(ii) Obtain a loan from Import and Export Bank of India. The loan was available at `12%` per annum interest.
(iii) To issue `9%` Debentures at a discount of `10%`.
after comparing the available alternatives the company decided on 1st April, 2008 to issue 6,000, `9%` Debentures of Rs. 100 each at a discount of `10%`. These debentures were redeemable in four instalments starting from the end of third year. The amount of debentures to redeemed at end of third, fourth, fifth and sixth year was as follows:
`{:("Years",,,"profit Rs."),(III,,,"1,00,000"),(IV,,,"1,00,000"),(V,,,"2,00,000"),(VI,,,"2,00,000"):}`
Prepare `9%` Debentures Account for the years 2008-09 to 2013-14.

Explanation

Total amount of debentures issued `=6,000xxRs.100=Rs.6,00,000,`
Discount on Issue of Debentures `=Rs.6,00,000xx10//100=Rs.60,000`.