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Raja company issued 600 shares of $20 par value ordinary shares and 200 shares of 540 par value preference shares for a lump sum of

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Raja company issued 600 shares of $20 par value ordinary shares and 200 shares of 540 par value preference shares for a lump sum of 532,000. The ordinary shares have a market value of 540 per share, and the preference shares have a market value of 580 per share. Prepare journal entry (use proportional method)

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