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Goodluck Ltd. purchased machinery costin...

Goodluck Ltd. purchased machinery costing Rs. 10,00,000 from Fair Deals Ltd. The company paid the price by issue of Equity Shares of Rs. 10 each at a premium of 25% .
Pass necessary Journal entries for the above transactions in the books of Goodluck Ltd.

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The correct Answer is:
80,000 Equity Shares to be issued.
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