A limited liability company issued 50 000 ordinary shares with a nominal value of $0.25 each at a premium of $0.50 per share. The cash received was correctly recorded, but the full amount was credited to the ordinary share capital. Which of the following journal entries is needed to correct this error?LO1.

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ted to correct this error Debit Credit a. Share premium account Share capital account $25 000 $25 000 b. Share capital account $25 000 Share premium account $25 000 c. Share capital account $37 500 Share premium account $37 500 d. Share capital account $25 000 Cash ACCA adapted $25.000