#800,000 worth of ordinary shares of 50k were issued at #1 each, payable in full…

#800,000 worth of ordinary shares of 50k were issued at #1 each, payable in full on application. The entry in the cash book would be to
  • A.
    credit #1,600,000
  • B.
    debit #1,600,000
  • C.
    credit #1,600,000
  • D.
    debit #800,000
Correct Answer: Option D
Explanation
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