Rakesh Ltd. offered to public 12% Debentures of Rs 8,00,000, Rs 100 each. Whole amount was payable on application on or before 1st May, 2017. As per term of issue debentures interest was payable half yearly basis on 30th September and 31st March each year, after deducting income tax at the rate of 10%. Public offered to purchase 8,000 debentures. Company made allotment of debentures on 01st June, 2017. Give journal entries in the books of the company for payment of debentures interest for the year 2017-18 and transferred it to statement of profit and loss.
