Q.5. Quick Deal Co. Ltd. invited applications for 10,000 equity shares of 100 each to be issued at a premium of 10 payable on allotment. Amount on shares was called as under: On application 20, On allotment 40, On first call 30, On final call 20. All the shares were applied for and allotted. Journalize the transactions, assuming that all sums due were received in the books of Quick Deal Co. Ltd and also show Balance Sheet. Issue of shares at discount​