On July 01, 2022, Panther Ltd. issued 20,000, 9% Debentures of 100 each at 8% premium and redeemable at a premium of 15% in four equal instalments starting from the end of the third year. The balance in Securities Premium on the date of issue of debentures was 80,000. Interest on debentures was to be paid on March 31st every year. Pass Journal entries for the financial year 2022-23. Also prepare Loss on Issue of Debentures account.

Marks-6, CBSE:2023-24/Sample/Q-26

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