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Sona Ltd. purchased machinery costing R...

Sona Ltd. purchased machinery costing Rs. 17,00,000 from Mona Ltd. Sona Ltd. Paid 20% of the amount by cheque and for the balance amount issued Equity Shares of Rs. 100 each at a premium of 25%.
Pass necessary Journal entries for the above transactions in the books of Sona Ltd. Show your working notes clearly .

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The correct Answer is:
10,880 Equity Shares to be issued.
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