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Question
Give the adjusting entry and closing entry for interest on debentures due to the debenture holders of a company.
Very Short Answer
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Solution
Adjusting entry:
| Particulars | Debit Amount (₹) | Credit Amount (₹) |
| Interest on Debentures A/c ...Dr. | - | - |
| To Debentureholders A/c | - | - |
Closing entry:
| Particulars | Debit Amount (₹) | Credit Amount (₹) |
| Statement of Profit & Loss ...Dr. | - | - |
| To Interest on Debentures A/c | - | - |
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