BG Ltd. Issued 2,000, 12% Debentures of ₹ 100 each on 1st April, 2012. The issue was fully subscribed. According to the terms of issue, on the debentues is paypble half-yearly on 30th September and 31st March and the tax deducted at source is 19%.
Pass necessary Journal enteries related to the debenture interest for the half- yearly ending 31st March, 2013 and transfer of interest on debentures of the Statement of Profit and Loss.
