X Ltd. has 4,000 12% debentures of Rs. 100 each on 1st April, 2018. According to the terms of issue interest on debentures is payable half yearly on 30th September and 31st March and the rate of tax deducted at source is 10%.

Pass necessary journal entries for interest on debentures for the year 2018-19. 

Marks-3, CBSE:2019-20/Main/04/Q-14*

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