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Est3. A Ltd. has part of its Share Capital in 2,000 15% redeemable preference shares of 100each repayable at a premium of 5%. The shares have now become ready for redemption. It isdecided that the whole amount will be redeemed out of a fresh issue of 20,000 equity shares of*10 each. The whole amount is received in cash and the 15% preference shares are redeemed.Show the necessary journal entries in the books of the company, |
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