On 1st April, $\displaystyle 2023$, YK Ltd. issued $\displaystyle 20,000$, $\displaystyle 9$% debentures of $\displaystyle 100$ each at a premium of $\displaystyle 5$%, redeemable after five years at par. The company closes its books on 31st March every year. Interest on debentures is payable half yearly on 30th September and 31st March every year. Pass necessary journal entries in the books of the company for issue of debentures and payment of interest for the year ending 31st March, 2024.

Books of YK Ltd. Journal Date Particulars L.F Dr. Cr. Amount Amount ₹ ₹ $\displaystyle 2023$ Bank A/c Dr. $\displaystyle 21,00,000$ April $\displaystyle 1$ To Debenture Application and Allotment A/c $\displaystyle 21,00,000$ (Receipt of application money on $\displaystyle 20,000$, $\displaystyle 9$% Debentures of ₹$\displaystyle 100$ each issued at a premium of $\displaystyle 5$%) $\displaystyle 2023$ Debenture Application and Allotment A/c Dr. $\displaystyle 21,00,000$ April $\displaystyle 1$ To $\displaystyle 9$% Debentures A/c $\displaystyle 20,00,000$ To Securities Premium A/c $\displaystyle 1,00,000$ (Transfer of Debenture application money to Debentures account and Securities premium account) $\displaystyle 2023$ Debenture Interest A/c Dr. $\displaystyle 90,000$ Sept $\displaystyle 30$ To Debentureholders A/c $\displaystyle 90,000$ (Interest due on debentures for six months) $\displaystyle 2023$ Debentureholders A/c Dr. $\displaystyle 90,000$ Sept $\displaystyle 30$ To Bank A/c $\displaystyle 90,000$ (Payment of interest to debentureholders) $\displaystyle 2024$ Debenture Interest A/c Dr. $\displaystyle 90,000$ March $\displaystyle 31$ To Debentureholders A/c $\displaystyle 90,000$ (Interest due on debentures for six months) $\displaystyle 2024$ Debentureholders A/c Dr. $\displaystyle 90,000$ March $\displaystyle 31$ To Bank A/c $\displaystyle 90,000$ (Payment of interest to debentureholders)