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The following information relate to the records of LEO CO. Authorized Ordinary Shares, 500,000 shares, P20 par Ordinary Share Capital P5,000,000 Ordinary Shares Subscribed Capital 2,400,000 Ordinary Shares Subscriptions Receivable 1,200,000 Ordinary Share Premium 1,480,000 The Ordinary Shares Subscribed of P2,400,000 refers to subscriptions made by 10 persons. Each of the ten subscribers subscribed to an equal number of shares at par and each one made a fifty percent payment on their subscriptions. Assuming four of the ten subscribers of LEO CO. who still have a balance payable on their subscriptions made full payment, how many shares of ordinary share capital will be issued? 48,000 shares 120,000 shares none of the choices provided 60,000 shares