[CBSE] Q. 42 Issue of Debentures Solution TS Grewal Class 12 (2024-25)

Solution of Question number 42 of the Issue of Debentures Chapter of TS Grewal Book 2024-25 CBSE Board

Pratham Ltd. issued 50,000, 9% Debentures of ₹ 100 each on 1st April, 2022 at 10% discount, redeemable at 10 premium. Interest is payable quarterly on 30th June, 20th September, 31st December and 31st March.

Pass the Journal entries for interest for the period ended 30th June, 2022.

[Ans.: Interest – ₹ 1,12,500.]

Solution:-