SRCC Ltd. Has 20,000,, 9% Debentures of ...

SRCC Ltd. Has 20,000,, `9%` Debentures of Rs. 100 each outstanding as on 31st March, 2018. These debentures are due for redemption on 31st March, 2019 at a premium of `10%`. The company had a credit balance of Rs. 22,00,000 in its Surplus, i.e., Balance in Statement of Profit and Loss. Instead of declaring a dividend it decided to redeem the debentures. Pass the necessary Journal entries in the books of the company for the redemption of debentures.

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