Limited Company issued on 1st July 2000, 10,000 redeemable preference share of Rs10 each. Such shares wee redeemable at a premium of 10%. Two-fifths of this issue was redeemed out of profits on 10th January 2004. On 20th January 2004, the Company issued 20,000 equity shares of rs 10 each at a premium of Rs 4 per share. Out of the proceeds of such issue, the balance of Redeemable Preference Shares was redeemed.
Make journal entries to record these transactions in the books of the company.
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