Self-test Bee Co. plc has an authorised share capital of 500,000 £1 ordinary shares. At present the issued capital is 200,000 ordinary shares issued at a premium of 40p each.

The company decides to issue a further 200,000 ordinary shares at a premium of 60p each. Payment is to be 90p on application and the balance on allotment.

Applications were received by the company for 500,000 shares. The directors agreed to allot 2 shares for every 5 applied for and refund all excess money to the applicants.

You are required to prepare the ledger accounts for the above transactions.