Question - 28

Punam Ltd. issued 20,000 equity shares each of Rs. 10, payable as follows:

On application Rs. 2, On allotment Rs. 4 and balance on first and final call.

The public applied for 24,000 shares shares were allotted as follows :

To applicants of 15,000 shares ................. 15,000 shares 

To applicants of 8,000 shares .................... 5,000 shares

To applicants of 1,000 shares ..................... Nil

All amount of allotment and call have been duly received.

pass journal entries in the books of Punam Ltd.

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