1. On 1 April 2020, Lulu Bhd decided to issue 300,000 ordinary shares at a price of RM1.80 each at the following terms: On Application RM 0.90 per share On Allotment RM 0.50 per share On First and Final Call on 15 July 2020 RM 0.40 per share Applications were received for 500,000 shares and it was decided to allot the shares to applicants for 400.000 shares, on the basis of three shares for every four applied for. The balance of the money received on application was to be applied on the amounts due on allotment. The shares were allotted on 1 May 2020, the unsuccessful applicants were being repaid their cash on this date. The balance of the allotment money was received in full by 15 May 2020. The remainder of the call was paid in full within two weeks of the call being made. You required to write up the ledger accounts necessary to record these transactions in the books of Lulu Bhd. (21 marks)