Fortune Ltd. had 4000, 12% Debentures of ₹100 each as on 1st April, 2018. As per terms of the issue, the company purchased the following debenture in the open market for immediate cancellation: 1st May, 2018 800 Debentur

12% Debentures A/c Date Particular J.F. Amount ₹ Date Particular J.F. Amount ₹ 1.5.2018 To Bank (excluding interest) 77,600 1.4.2018 By balance b/d 4,00,000 1.5.2018 To Profit on redemption of debentures 2,400 1.1.2019 To Bank (excluding interest) 1,55,600 1.1.2019 To Profit on redemption of debentures 4,400 1.3.2019 To Bank 39,400 1.3.2019 To Profit on redemption of debentures 600 31.3.2019 To Balance c/d 1,20,000 Total 4,00,000 Total 4,00,000 Debenture Interest A/c Date Particular J.F. ₹ Date Particular J.F. ₹ 1.5.2018 To Bank 800 31.3.2019 By Profit & Loss A/c 34,000 30.9.2018 To Debenture Holder A/c Bank 19,200 1.1.2019 To Bank 4,800 1.3.2019 To Debenture Holder A/c/ Bank 2,000 31.3.2019 To Debenture Holder A/c/ Bank 7,200 Total 34,000 Total 34,000 Profit on Redemption of Debentures A/c Date Particular J.F. ₹ Date Particular J.F. ₹ 31.3.2019 To Capital Reserve A/c 7,400 1.5.2018 By 12% Debenture A/c 2,400 1.1.2019 By 12% Debenture A/c 4,400 1.3.2019 By 12% Debenture A/c 600 Total 7,400 Total 7,400