#800,000 worth of ordinary shares of 50k were issued at #1 each, payable in full…

Accounts - Principles of Accounts JAMB 2014

#800,000 worth of ordinary shares of 50k were issued at #1 each, payable in full on application. The entry in the cash book would be to

  • credit #1,600,000
  • debit #1,600,000
  • credit #1,600,000
  • debit #800,000 checkmark

The correct answer is: D

Explanation

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