[CBSE] Q. 41 Issue of Debentures Solution TS Grewal Class 12 (2024-25)

Solution of Question number 41 of the Issue of Debentures Chapter of TS Grewal Book 2024-25 CBSE Board

Agam Ltd. issued 40,000; 9% Debentures of ₹ 100 each on 1st April, 2022 at a discount of 10% redeemable at a premium of 10%.

Assuming that the interest was paid half yearly on 30th September and 31st March, give Journal entries relating to debenture interest for the half year ended 31st March, 2023.

[Ans.: Total interest paid – ₹ 3,60,000.]

Solution:-