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Answer:
Explanation:
1. Entry for receipt of application money:
Date Account Debit Credit
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[Date] Bank A/c Rs. 12,000
To Share Application A/c Rs. 12,000
(Being the receipt of application money)
2. Entry for allotment of shares:
Date Account Debit Credit
-------------------------------------------------------------------
[Date] Share Application A/c Rs. 20,000
To Share Allotment A/c Rs. 20,000
(Being the allotment of shares)
3. Entry for receipt of allotment money:
Date Account Debit Credit
-------------------------------------------------------------------
[Date] Bank A/c Rs. 20,000
To Share Allotment A/c Rs. 20,000
(Being the receipt of allotment money)
4. Entry for the payment of call money:
Date Account Debit Credit
[Date] Share Call A/c Rs. 8,000
To Bank A/c Rs. 8,000
(Being the payment of call money)
5. Entry for the transfer of share call money to share capital:
Date Account Debit Credit
[Date] Share Call A/c Rs. 8,000
To Share Capital A/c Rs. 8,000
(Being the transfer of share call money to share capital)
6. Entry for the payment of share issue expenses:
Date Account Debit Credit
-------------------------------------------------------------------
[Date] Share Issue Expenses A/c Rs. 2,000
To Bank A/c Rs. 2,000
(Being the payment of share issue expenses)
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