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     EduGorilla 
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    X Ltd. invited application for 10000 shares of the value of ₹10 each at a premium of 10%. The amount is payable as ₹3 on application (including premium) and ₹2 on allotment and balance on First and Final call. The whole of the above issue was applied and cash duly received. Journal entry for the application money received

    Options :-

    1. Share Application Dr. 20000
       To Share Allotment A/c  20000

    2. Bank Account    Dr. 30000                        
      To Share Allotment A/c 30000

    3. Bank Account     Dr. 20000
      To Share Application A/c 20000

    4. Bank Account    Dr. 30000
      To Share Application A/c 30000

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Reply To: X Ltd. invited application for 10000 shares of the value of ₹10 each at a premium of 10%. The amou….
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