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2. Handbag Ltd issued 2000 ordinary shares of P5 at an issue price of P8. Payment for the shares was made as follows: On application
2. Handbag Ltd issued 2000 ordinary shares of P5 at an issue price of P8. Payment for the shares was made as follows: On application P2, on allotment P4 (including share premium), on first call P1 and on second call P1. Applications were received for 2000.All the instalments were received on due dates. Prepare relevant accounts to record the above issue of shares.
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