Question - 14 

Atul company Ltd. invites applications for 10,000 shares of Rs. 100 each at a premium of Rs. 10 per share payable as Rs. 30 on application, Rs. 50 on allotment (with premium) and balance on call All the shares were subscribed allotted and paid for on due dates expenses on issue of these of these shares were Rs. 5,000 show the necessary journal entries.

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