Rajan Ltd Purchased assets from Geeta & Co. for 5,00,000. A sum of ₹ 1,00,000 was paid by means of a bank draft

Rajan Ltd Purchased assets from Geeta & Co. for 5,00,000. A sum of ₹ 1,00,000 was paid by means of a bank draft and for the balance due Rajan Ltd. issued Equity Shares of ₹ 10 each at a premium of 25%.

Journalise the above transactions in the books of the company.

[Ans.: 32,000 Equity Shares to be issued.]