When debentures are issued at a discount and are redeemable at a premium, which of the following accounts is debited at the time of issue ?
A. Debentures A/c
B. Premium on Redemption of Debentures A/c
C. Loss on Issue of Debentures A/c
D. Profit & Loss A/c
Answer:C
When debentures are issued at a discount and are redeemable at a premium, which of the following accounts is debited at the time of issue ?
A. Debentures A/c B. Premium on Redemption of Debentures A/c C. Loss on Issue of Debentures A/c D. Profit & Loss A/c