When full payment is asked for at the time of application, then it is an issue with lump sum payment.  The following are the entries to be made under such situation.

A. Bank a/c
To Share Application a/c
(Being Application money receive on ..... shares@ Rs...... each )
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A1.Shared issued at Par
Share application a/c
To share capital 
(Being share Application money transferred to share capital Account )

A2.Share issued at Premium 
Share Application a/c
To Share Capital a/c
To Share Premium a/c
(Being Share Application money transferred to share Capital and share premium Account)

A3. Share issued at Discount
Share Application a/c
Discount on Issue of share a/c
To share Capital a/c
(Being share application money transferred to share Capital Account at a discount)