A limited issued 20000 shares of rs10 each to the public, payable rs2 on application, rs4 on allotment and rs4 on first call. application were received for 25000 shares. pass the journal entries in the book of the company assuming that the amount due were received and application for 5000 shares were rejected and application money was returned.

A limited issued 20000 shares of rs10 each to the public, payable rs2

1.	A limited issued 20000 shares of rs10 each to the public, payable rs2 on application, rs4 on allotment and rs4 on first call. application were received for 25000 shares. pass the journal entries in the book of the company assuming that the amount due were received and application for 5000 shares were rejected and application money was returned.
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