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The company issued for P1,000,000 cash, 1,000 shares of P200 par value Preference share and 2,000 shares of P100 ordinary share. The preference share has

The company issued for P1,000,000 cash, 1,000 shares of P200 par value Preference share and 2,000 shares of P100 ordinary share. The preference share has a fair value of P240 on the date of sale. No fair value available for the ordinary share.

How much is credited to Share Premium Ordinary Shares?

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