On 1st October, 2022 Ninza Ltd. issued 4,000, 8% Debentures of Rs. 100 each at a discount of 10%. The company had a balance of Rs. 50,000 in Securities Premium Account on the same date. 

Pass necessary Journal entries for issue of debentures and to write off discount on issue of debentures.

 Marks-3, CBSE: 2023-24/Zone-5/Set-1/Q-19b*