On 1st Jan 2016 the first call of T 3 per share became due on 1 00 000 equity shares issued by ...........

On 1st Jan., 2016 the first call of T 3 per share became due on 1,00,000 equity shares issued by Kamini Ltd. Karan, a holder of 500 shares did not pay the first call money. Arjun, a shareholder holding 1,000 shares paid the second and final call of T5 per share along with the first call. Calls-in-Advance Account will be:

debited by rs5,000

credited by rs5,000

debited by rs 1,500

credited by rs 1,500

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