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During its first year of operations, Moon Ltd invited the public to subscribe to the...

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Accounting

During its first year of operations, Moon Ltd invited the public to subscribe to the issue of 20,400 shares
for $10 per share:
$4.50 payable on application
$3.00 on allotment
Applications closed and shares were allotted on 1 July. All allotment money was received by 31 July.
The remaining capital of $2.50 per share is called on 1 December and all call money was received by 31 December.

Required
Journalise the transactions to record:
a) the application by investors
b) the allotment of shares on 1 July and the receipt of allotment money received by 31 July.
(Enter debit entries first followed by credit entries.Please include Dr and Cr as appropriate. Narrations are not required).

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