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flag Ltd has received applications for 4 million shares during july 2014. The shares are to be issued at a price of $2.75 per share.

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flag Ltd has received applications for 4 million shares during july 2014. The shares are to be issued at a price of $2.75 per share. The 4 million shares are allotted on 15 August 2014. What are the accounting entries required to record these events? Summary entry for July 2014 Dr Bank trust ation 11 000 000 deo

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