When debentures are issued at a premium, it means they are sold for more than their face value. This creates a premium on issue, which is recorded in the accounts.
When these debentures are redeemed at a premium, the company pays more than the face value again. This creates a premium on redemption.
In the journal entries:
Loss on issue of debentures is debited because the company incurs a loss when they issue them at a premium.
Premium on redemption of debentures is credited because the company recognizes the premium they pay when redeeming.
-Security premium account is credited because the shares were issues at premium
Thus, the correct combination is (B), (C), and (D), leading to option 4 being correct.