On 1st April, 2023, SM Ltd. issued 30,000, 12% debentures of 100 each at a premium of 10%, redeemable at par after four years. The company closes its…

Books of SM Ltd. Journal Date Particulars L.F Dr. Cr. Amount Amount ₹ ₹ $\displaystyle 2023$ Bank A/c Dr. $\displaystyle 33,00,000$ April $\displaystyle 1$ To Debenture Application and Allotment A/c $\displaystyle 33,00,000$ (Receipt of application money on $\displaystyle 30,000$, $\displaystyle 12$% Debentures of ₹$\displaystyle 100$ each issued at a premium of $\displaystyle 10$%) $\displaystyle 2023$ Debenture Application and Allotment A/c Dr. $\displaystyle 33,00,000$ April $\displaystyle 1$ To $\displaystyle 12$% Debentures A/c $\displaystyle 30,00,000$ To Securities Premium A/c $\displaystyle 3$ ,$\displaystyle 00,000$ (Transfer of Debenture application money to Debentures account and Securities premium account) $\displaystyle 2023$ Debenture Interest A/c Dr. $\displaystyle 1,80,000$ Sept $\displaystyle 30$ To Debentureholders A/c $\displaystyle 1,80,000$ (Interest due on debentures for six months) $\displaystyle 2023$ Debentureholders A/c Dr. $\displaystyle 1,80,000$ Sept $\displaystyle 30$ To Bank A/c $\displaystyle 1,80,000$ (Payment of interest to debentureholders) $\displaystyle 2024$ Debenture Interest A/c Dr. $\displaystyle 1,80,000$ March $\displaystyle 31$ To Debentureholders A/c $\displaystyle 1,80,000$ (Interest due on debentures for six months) $\displaystyle 2024$ Debentureholders A/c Dr. $\displaystyle 1,80,000$ March $\displaystyle 31$ To Bank A/c $\displaystyle 1,80,000$ (Payment of interest to debentureholders)