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When recording the application money as share capital on allotment of shares to applicants, the following journal entry is made: Dr Cash at Bank Cr
When recording the application money as share capital on allotment of shares to applicants, the following journal entry is made:
| Dr Cash at Bank Cr Share capital |
| Dr Allotment Cr Share capital |
| Dr Application Cr Share capital |
| Dr Cash trust Cr Share capital
|
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