When defaulter shareholders pay their default amount of allotment money, we debit account and credit account.

calls in advance

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calls in arrears

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bank

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share allotment

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Solution

The correct options are
B calls in arrears
C bank
When defaulter shareholders pay their default amount of allotment money, then the journal entry is-
Bank A/c Dr.
To Calls in Arrears A/c

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Similar questions

When defaulter shareholders pay their default amount of allotment money, then the journal entry is-

In case of default in the payment of allotment money, the bank account is debited with which amount?

When shareholders make default in the payment of allotment money or call money due from them, it is termed as__________

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