Lemon tree Ltd. purchased a piece of land from JSS Ltd. and paid the consideration as follows:-
(i) Issued a cheque for Rs. 10,00,000
(ii) Issued a bill of Exchange for 3 months for Rs. 5,00,000
(iii) Issued 5,000; 9% Debentures of Rs. 100 each at par redeemable at 10% premium after 5 years
Pass the journal entries (explain the 3rd part)

Dear Student,

Journal entry will be :-

Journal
Date	Particulars		L.F.	Debit Amount (Rs)	Credit Amount (Rs)
	Land A/c	Dr.		20,00,000
	To JSS Ltd.  A/c				20,00,000
	(Land purchased from JSS Ltd.)
(i)	JSS Ltd. A/c	Dr.		10,00,000
	To Bank				10,00,000
	(Being partially payment made.)
(ii)	JSS Ltd.  A/c	Dr.		500,000
	To Bills Payable A/c				5,00,000
	(Being bills of exchange issued.)
(iii)	JSS Ltd A/c	Dr.		5,00,000
	Loss on Issue of Debentures A/c	Dr.		50,000
	To 9% Debentures A/c				5,00,000
	To Premium on Redemption of Debentures A/c				50,000
	(JSS Ltd. Issued 9% Debentures of Rs 100 each at a premium of 10%)

Note :- Separate entries has been provided for better understanding. You can merge them also.
Explanation (3rd part):-
As, the debenture are issued on par and redeemable at premium, therefore, it is the loss of the firm which is transferred to Loss on issue of debenture A/c.
Kindly get back to us, if you still have any kinda doubts.

Regards