Debentures

On 1st April, 2015, Mathew Ltd. Issued 10,000, 9% Debentures of ₹ 100 each at a discount of 5%, redeemable at a premium of 5%. These debentures were redeemable as follows: {:("On31st March, 2016",,,,"2,000 Debentures,"),("On31st March, 2017",,,,"3,000 Debentures,"),("On31st March, 2018",,,,"3,000 Debentures,"):} prepare the Loss Issue of Debentures Account, Debentures Account and Premium on Redemption of Debentures Account for the three years.

A Ltd. Issued 2,000, 9% Debentures of 100 each on the following terms: ₹ 20 on application, ₹ 20 on allotment, ₹ 30 on first call, ₹ 30 on final call. The Public applied for 2,400 debentures, Application for 1,800 debentures were accapted in full Application for 400 debentures were allotted 200 debentures and applications for 200 debentures were rejected. Pass necessary Journal entries.