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 account
B. Premium on redemption of debentures account,
C. Loss on issue of debentures account
D. Securities Premium Reserve Account
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 account B. Premium on redemption of debentures account, C. Loss on issue of debentures account D. Securities Premium Reserve Account