Q. When Redeemable Preference shares are due for redemption, the entry passed is (Solved)
1. debit redeemable preference share capital a/c; credit cash a/c
2. debit redeemable preference share capital a/c; credit preference shareholders a/c
3. debit preference shareholders a/c; credit cash a/c
4. debit preference shareholders a/c; credit capital reduction a/c
- b. debit redeemable preference share capital a/c; credit preference shareholders a/c