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When shares are oversubscribed and money returned to unsuccessful applicants, the entry to record such money is to debit

When shares are oversubscribed and money returned to unsuccessful applicants, the entry to record such money is to debit

A application and allotment account and credit unsubscribed shares

B application and allotment account and credit cash

C oversubscribed shares and credit allotment account

D oversubscribed shares and credit allotment account

Answer is B

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