A company was registered with 50,000 equity shares of ₹10 each, payable ₹4 on application,₹3 on allotment and the balance on a call.The company allotted 16,000 equity shares to the public issued 4,000 fully paid equity shares against purchase of a plot of land.All the calls were made and money due thereon were received in full. Show the journal entries to record the above transactions.
(Hints: For purchase of land : Land A/c (Dr.) and Equity Share Capital A/c (Cr.) ₹40,000​