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When the mone...

Question

When the money for application of debentures is received, we will debit account.

A

debentures

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B

bank

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C

application

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D

debenture-holders

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Solution

The correct option is B bank
When the money for application of debentures is received, we will debit bank account and credit debenture application and allotment account with the amount received at that stage.

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