The double entries for refund of unsuccessful application monies are, debit

Accounts - Principles of Accounts

WAEC 1998

A. application for shares account, credit bank account
B. bank account, credit application for shares account
C. allotment account, credit application for shares account
D. allotment account, credit bank account
E. cash account, credit bank account

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Correct Answer: Option A

Explanation

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The double entries for refund of unsuccessful application monies are, debit

Correct Answer: Option A

Explanation

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