#800,000 worth of ordinary shares of 50k were issued at #1 each, payable in full
FINANCIAL
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
- A. credit #1,600,000
- B. debit #1,600,000
- C. credit #1,600,000
- D. debit #800,000
Correct Answer: D. debit #800,000
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