Question

Give Journal entries in the books of Sarita Ltd. Sarita Ltd. issued 2,000 shares of Rs. 100 each to the public payable as Rs. 20 on application , Rs. 40 on allotment and Rs. 40 on first and final call. Applications were received for 2500 shares. Surplus of application money was utilised for allotment. All the amounts due were duly received.

Answer 1

Answer:

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