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