Tetley Ltd. issued 10,000, 9% Debentures of Rs. 100 each at a discount of 5% redeemable at the end of 5 years at a premium of 10%. Tetley Ltd. has a balance of Rs. 50,000 in Securities Premium Reserve. Loss on Issue of debentures is to be written off equally over the life of debentures. Pass the journal entries for writing off the Loss on Issue of Debentures.
