Question 39 1 points ABC Ltd is a new company and has offered shares to the public. The shares are payable in instalments, with an amount payable on application and the balance due on allotment. The issue was oversubscribed. The company has sued shares to applicants on a pro-rata basis and decided to refund the excess application money to the shareholders. The excess application money should be debited to the O forfeited Shares account O application account O allotment account O cash account