3. Zee Company issued 1000 P1 ordinary shares at P1.50 per share. The shares were to...

3. Zee Company issued 1000 P1 ordinary shares at P1.50 per share. The shares were to be paid for as follows: 50 thebe on application, 70 thebe (including premium) on allotment and 30 on call. 1500 applications were received and allotment was made pro rata to the applicants. The balance of application money was applied to the allotment, no cash being refunded. All instalments were received on the due dates. Prepare relevant accounts to record the above issue of shares.

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ekkarill92 answered 8 months ago

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