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What are accounting entries required to record these events

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Reference no: EM133096060

Question - Cisbi Ltd has received applications for 4 million shares during Dec 2018. The shares are to be issued at a price of $3.30 per share. The 4 million shares are allotted on 5 Feb 2019. What are the accounting entries required to record these events? Provide the journal entries necessary to account for the application of Cisbi Ltd's shares. Hint: 3 Journal Entries.

Reference no: EM133096060

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