The following is the summarised balance sheet of a company as on 30th April 2001. 

It was decided to redeem both the classes of preference shares on 30^th June at a premium of 5%. In May 2001, the company issued for cash so many equity shares of ₹10 each, as were necessary to provide for redemption of both classes of preference shares, which could not otherwise be redeemed. The issue was fully subscribed and all moneys were received. Give journal entries in the books of the company.

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Liabilities Issued, Subscribed and Paid-up Capital: 4,000 8% Redeemable Preference Shares of ₹100 each. fully called-up & paid-up 3,000 9% Redeemable Preference Shares of 100 each, *80 paid-up 1,00,000 Equity Shares of 10 each, fully paid-up Securities Premium A/c Revenue Reserve Current Liability 4,00,000 2,40,000 10,00,000 50,000 5,00,000 2,70,000 24,60,000 Assets Sundry Assets Cash at Bank 18,00,000 6,60,000 24,60,000