K Ltd. took over the assets of Rs. 15,00,000 and liabilities of Rs. 5,00,000 of P Ltd. for a purchase consideration of Rs. 13,68,500. Rs. 25,500 were paid by issuing a promissory note in favour of P Ltd. payable after two months and the balance was paid by issue of equity shares of Rs. 100 each at a premium of 25%.
Pass necessary Journal entries for the above transactions in the books of K Ltd.