Illustration 9 Kamal & Co. Ltd., issued for public subscription 40,000 equity shares of 10 a...

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Illustration 9 Kamal & Co. Ltd., issued for public subscription 40,000 equity shares of 10 a Application for 50,000 shares were received. Application money received on exc applications (10,000) was returned. The call was made and all the amounts due wa payable ? 2 on application, 4 on allotment and the balance on first and final ca received in full. Pass the necessary journal entries. Illustration 9 Kamal & Co. Ltd., issued for public subscription 40,000 equity shares of 10 a Application for 50,000 shares were received. Application money received on exc applications (10,000) was returned. The call was made and all the amounts due wa payable ? 2 on application, 4 on allotment and the balance on first and final ca received in full. Pass the necessary journal entries.