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On 31 December 2020 a company redeemed all the 11% redeemable preference shares in issue (redeemable at the option of the company), at a premium

On 31 December 2020 a company redeemed all the 11% redeemable preference shares in issue (redeemable at the option of the company), at a premium of 10%.

Choose the 3 correct debit entries that will be made on 31 December 2020 to give effect to this redemption and record the amount owed to the preference shareholders (including the preference dividend):

Debit: Retained Income
Debit: 11% Redeemable preference shares
Debit: 11% Redeemable preference share capital
Debit: Bank
Debit: Dividends outstanding
Debit: Preference dividend
Debit: Premium
Debit: Preference shares
Debit: Premium at redemption of preference shares
Debit: Dividends
Debit: Preference Shareholders

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