SandeshLtd.tookovertheassetsofRs.7,00,000andLiabilitiesofRs. 2,00,000from SancharLtd.forapurchaseconsiderationofRs.4,59,500,Rs.8,500 werepaidbyacceptingaBilsofExchangeinfavourofSancharLtd.payableafter threemonthsandthebalancewaspaidbyissueofequitysharesofRs.10eachata prem ium of10% in favourofSancharLtd.
PassnecessaryJournalEntriesfortheabovetransactionsinthebooksofSandesh
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