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18. Sundaram Itd. purchased furniture for $3,00,000 from Ravindram Itd. *1,00,000 werepaid by drawing a promissory note (Bills payable) in favour of Ravindram Itd. The balancewas paid by issue of equity shares of 10 each at a premium of 25%. Pass necessary journalentries in the books of Sundaram Itd.[AI 2012] (TS Grewal Scanner 6]​

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