On 1st April, $\displaystyle 2024$, Smaran Ltd. issued $\displaystyle 60,000$, $\displaystyle 11$% Debentures of $\displaystyle 100$ t each at a premium of $\displaystyle 10$%, redeemable at par after five years. The company closed its books on 31st March every year. Pass necessary journal entries in the books of the company for issue of debentures, payment of interest on debentures and writing off interest for the year ended 31st March, 2025.

Books of Smaran Ltd. Journal Date Particulars L Dr. Cr. F Amount Amount (₹) (₹) $\displaystyle 2024$ April $\displaystyle 1$ Bank A/c Dr. $\displaystyle 66,00,000$ To Debenture Application and Allotment A/c $\displaystyle 66,00,000$ (Debenture application money received) April $\displaystyle 1$ Debenture Application and Allotment A/c Dr. $\displaystyle 66,00,000$ To $\displaystyle 11$% Debentures A/c $\displaystyle 60,00,000$ To Securities Premium A/c $\displaystyle 6,00,000$ (Debenture application money transferred to $\displaystyle 11$% Debentures A/c and securities premium account) $\displaystyle 2025$ March $\displaystyle 31$ Debenture Interest A/c Dr. $\displaystyle 6,60,000$ To Debentureholders’ A/c $\displaystyle 6,60,000$ (Debenture interest due) March $\displaystyle 31$ Debentureholders’ A/c Dr. $\displaystyle 6,60,000$ To Bank A/c $\displaystyle 6,60,000$ (Debenture interest paid) March $\displaystyle 31$ Statement of Profit and Loss Dr. $\displaystyle 6,60,000$ To Debenture Interest A/c $\displaystyle 6,60,000$ (Debenture interest written off from profits) .