Anjali Ltd. issued 12,000, 13% debentures of ₹ 100 each at a discount of 6% on 1st July, 2017. The debentures are repayable in three equal instalments of ₹ 4,00,000 each on the 30th June every year. Books of accounts of

Statement showing allocation of discount on issue of debentures For the year ended 31st March Outstanding amount x period in years Amount of discount write off 2018 1200000 x 9/12 = 900000 72000 x 9/24 = 27000 2019 1200000 x 3/12 + 800000 x 9/12 = 900000 72000 x 9/24 = 27000 2020 800000 x 3/12 + 400000 x 9/12 = 500000 72000 x 5/24 = 15000 2021 400000 x 3/12 = 100000 72000 x 1/24 = 3000 (9:9:5:1) Discount of issue of Debentures Date Particulars Amount Date Particulars Amount 01.07.2017 To debentures A/c 72000 31.03.2018 By P&L A/c 27,000 31.03.2018 By Balance C/D 45,000 Total 72000 Total 72,000 01.04.2018 To Balance B/D 45000 31.03.2019 By P&L A/c 27,000 By Balance C/D 18,000 Total 45000 Total 45,000 01.04.2019 To Balance B/D 18000 31.03.2020 By P&L A/c 15,000 By Balance C/D 3,000 Total 18000 Total 18,000 01.04.2020 To Balance B/D 3000 30.06.2020 By P&L A/c 3,000 Total 3000 Total 3000