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On the 15th August, 2020 BNE Ltd issued a prospectus inviting the public to apply...

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Accounting

On the 15th August, 2020 BNE Ltd issued a prospectus inviting the public to apply for 200,000 shares at $3 each in their company. The shares were payable $1 on application and $2 on allotment.

Applications closed on the 30th September, 2020 with applications received for 225,000 shares at that date. On that date, the shares were allotted, and all allotment money was received by 30th November, 2020.

REQUIRED:

Journalise the above transactions

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