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Akshit Ltd. purchased machinery of Rs. 4...

Akshit Ltd. purchased machinery of Rs. 4,30,000 from Perfect Machines Ltd. and paid as follows:
(a) Issued 10,000 Equity shares of Rs. 10 each at a premium of Rs. 3,
(b) Issued an acceptance of Rs. 1,00,000 payable after 3 months, and (c) Balance by issuing post-dated cheque of two months of Rs. 2,00,000.
Pass the Journal entries in the books of Akshit Ltd. and Perfect Machines Ltd.

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