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(Querist)
02 April 2010 8% pref. share capital 600000
adj: pref. shareholders gave up their 30% liability in exchange of 11% debnture.

please pass the journal entry.

my id abhipcc@rediffmail.com
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shakuntala chhangani

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shakuntala chhangani (Expert)
07 April 2010 8% pref Share capital A/c Dr. 1,80,000
To 11% deb. a/c 1,80,000

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