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Bangeroo Co, issues 100,000 3% $1 redeemable preference shares during the year ended30 September 20X8 at 98c per share.What is the correct entry to account for this transaction?Debit Credit$ $A Cash $98,000 Liability $98,000B Cash $98,000 Share capital $100,000Share premium $2,000C Cash $98,000 Share capital $98,000D Cash $98,000 Share capital $100,000Statement of profit or loss $2,000
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