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Q.8. The following journal entry appears in the books of X Co. Ltd. Bank A/c Dr. 4,75,000 Loss on issue of debenture A/c 75,000 To 12% Debentures A/c Dr. 5,00,000 To Premium on Redemption of Debenture A/c 50,000 In this case the debentures have been issued at a discount of 5%. What is the rate of premium on redemption of debentures? - FirstInTest | FirstInTest