Kippen Products pic made an offer for sale of I million ordinary shares during May 1984 at a price of £2.50 payable on application. Applications were subsequently received for 2.4 million shares, allotments made to successful applicants and money returned to unsuccessful applicants. Costs of making the issue, including underwriting commission amounting to £150000, were written-off against the Share Premium Account. You are required to prepare journal entries to record the transactions relating to the above issue of shares.