Question - 16

T. T. Company Ltd. issued 20,000 shares of Rs. 10 each payable at premium of Rs. 4 per share. Instalments were fixed as under: Rs. 4 on application (with premium Rs. 1) Rs. 3 on allotmemt (with premium Rs. 1), Rs. 4 on first call (With premium Rs. 1), Rs. 3 on final call (with premium Rs. 1) all the due amount was duly received prepare cash book in the book of company and pass necessary journal entries.

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