Which of the following is the appropriate journal entry to record the cash collected from applicants for shares before the shares are actually issued?

Select one:

a.Increasecash trustaccount: increaseshare capitalaccount.

b.Increasecash trustaccount: increaseapplicationaccount.

c.Increaseapplicationaccount: decreaseshare capitalaccount.

d.Increaseshare capitalaccount: decreasecash trustaccount.

Clear my choice