Question - 08 

A company issued 12,000 equity shares of Rs. 10 each Applications are received for full 12,000 shares Amount is payable as follows: On application Rs. 3, on Allotment Rs. 2, On first call Rs. 3, on final Call Rs. 2 per share. The shares were duly allotted call made and amount received expenses of issue of shares amounted of Rs. 5,000 pass the necessary journal entries and prepare cash - book.

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