Pass necessary journal entries for issue of debentures for the following transactions : (i) KL Ltd. issued $\displaystyle 80,000$, $\displaystyle 9$% Debentures of $\displaystyle 100$ each at a premium of $\displaystyle 10$%, redeemable at a premium of $\displaystyle 5$%. (ii) UH Ltd. issued $\displaystyle 40,000$, $\displaystyle 9$% Debentures of t $\displaystyle 100$ each at par, redeemable at a premium of $\displaystyle 10$%.

Books of KL Ltd. Journal Date Particulars L. Dr. Cr. F. Amount Amount (₹) (₹) (i) Bank A/c Dr. $\displaystyle 88,00,000$ To Debenture Application and Allotment A/c $\displaystyle 88,00,000$ (Application money received on $\displaystyle 80,000$ $\displaystyle 9$% debentures of ₹$\displaystyle 100$ each issued at $\displaystyle 10$% premium) Debenture Application and Allotment A/c Dr. $\displaystyle 88,00,000$ Loss on issue of Debentures A/c Dr. $\displaystyle 4,00,000$ To $\displaystyle 9$% Debentures A/c $\displaystyle 80,00,000$ To Securities Premium A/c $\displaystyle 8,00,000$ To Premium on Redemption of Debentures A/c $\displaystyle 4,00,000$ (Debentures application money transferred to debentures A/c & securities premium A/c, and premium on redemption of debentures A/c created) Books of UH Ltd. Journal Date Particulars L. Dr. Cr. F. Amount Amount (₹) (₹) (ii) Bank A/c Dr. $\displaystyle 40,00,000$ To Debenture Application and Allotment A/c $\displaystyle 40,00,000$ (Application money received on $\displaystyle 40,000$ $\displaystyle 9$%debentures of ₹$\displaystyle 100$ each issued at par) Page $\displaystyle 8$ of $\displaystyle 21$ Debenture Application and Allotment A/c Dr. $\displaystyle 40,00,000$ Loss on issue of Debentures A/c Dr. $\displaystyle 4,00,000$ To $\displaystyle 9$% Debentures A/c $\displaystyle 40,00,000$ To Premium on Redemption of Debentures A/c $\displaystyle 4,00,000$ (Debentures application money transferred to debentures A/c and premium on redemption of debentures account created)