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- United Limited was registered with a nominal capital of $500,000 in shares of $100 each. - 3,000 shares were issued for subscription and payable
- United Limited was registered with a nominal capital of $500,000 in shares of $100 each. - 3,000 shares were issued for subscription and payable as to $12.50 on application, \$12.50 on allotment, and \$25 three months after allotment, with the balance to be called up as and when required. - All money up to allotment was duly received, but regarding the call of $25, a shareholder holding 100 shares did not pay the amount due. Another shareholder who was allotted 150 shares paid the entire amount of the shares. Show the journal entries needed to record the above transactions
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