Lakshmi Ltd. invited applications for 20,000 shares of `10 each, payable as follows: on application 4; on
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Lakshmi Ltd. invited applications for 20,000 shares of `10 each, payable as follows: on application ₹4; on allotment ₹4; on final call ₹2. Applications were received for 25,000 shares. The directors made pro-rata allotment. Excess application money was adjusted towards allotment and call was received. Make the necessary journal entries in the book of Lakshmi Ltd.
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