Question on: JAMB Accounting - 2012
When shares are oversubscribed and money returned to unsuccessful applicants, the entry to record such money is to debit
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
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Correct Option: B
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