JCR LTD. invited applications for issuing 20000 equity shares of ₹ 20 each at a discount of 10%. whole amount was payable on application. The issue was fully subscribed. pass necessary journal entries and prepare a balance sheet
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Bank a/c dr. 360000
To Share application and allotment a/c 360000
Share application and allotment a/c dr.360000
To Share capital a/c 360000
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