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Z Ltd. purchased furniture costing Rs. ...

Z Ltd. purchased furniture costing Rs. 2,20,000 from C.D Ltd. The payment was to be made by issue of 9% Preference Shares of Rs. 100 each at a premium of Rs. 10 per share. Pass necessary Journal entries in the books of Z Ltd.

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The correct Answer is:
2,000; 9% Preference Shares to be issued.
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