(when royalty is to be recouped within fixed period) Bengal coal limited used a colliery on 1st January 2011 at minimum rent of ₹15,000 merging into the royality of ₹1 per ton with a stipulation to recoup shortworkings over the first three years of the lease. the output for the first four years of the lease was 8000; 13,000; 21,000 and 18,000 tons respectively. Draft the necessary journal entries in the books of the company giving effect to the above.
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