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Prepare the journal entries necessary to account

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Question - On 1 July 2019, ABC Ltd issued 5 million shares at $5.00 each. All the shares were subscribed for. ABC Ltd incurred the following costs that were associated with the share issue:

Advertising of share issue and prospectus 10 000

Accounting fees associated with drafting of prospectus 4000

Legal expenses associated with share issue 5000

REQUIRED - Prepare the journal entries necessary to account for the issue of the shares?

Reference no: EM132979230

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