Arrange the journal entries with regard to first call of shares in the correct sequence:

(A) For Adjustment of Excess Application Money
(B) For Amount Due on Allotment
(C) For Allotment money received.
(D) For Amount Due on call.

Choose the correct answer from the options given below:

(A), (B), (C), (D)

The correct answer is Option (2) → (A), (B), (C), (D)

Step 1: Adjustment of excess application money: If more application money was received, it is adjusted towards allotment.→ (A)

Step 2: Amount due on allotment: After adjustments, company makes allotment entries.→ (B)

Step 3: Allotment money received:Company records receipt of allotment money from shareholders.→ (C)

Step 4: Amount due on call. Later, the first call is made.→ (D)