A. application and allotment account and credit unsubscribed shares
B. application and allotment account and credit cash
C. oversubscribed shares and credit allotment account
D. oversubscribed shares and credit allotment account
Correct Answer:
Option B – application and allotment account and credit cash
Explanation
You will debit application and allotment account and credit cash because monies that have been collected from the public wil have to be returned
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