A Ltd. Company has issued Rs 100,000, 9% debentures at a discount of 6% These debentures are to be redeemed equally spread over 5 annual instalments. Shown Discount on issue of debentures account for five years

A limeited company issued ₹ 1,00,000, 9% Debentures at a discount of 6% on 1st April, 2017, These debentures are to be redeemed equally, spead over 5 annual instalments. Pass the Journal entries for issue of debentures and writing off the discount.

On 1st April, 2015, V.V.L. Ltd. Issued 1,000, 9% Debentures of ₹ 100 each at a discount of 6%, redeemable at a premium of 10% after three years. Pass necessary Journal entries for the issue of debentures and debentures interest for the year ended 31st March, 2016, assuming that interest is payable on 30th September and 31st March and the rate of tax deducted at source is 10% .