10 Marks On 1 January 2021, Pine Ltd issued a prospectus inviting applications for 600,000 ordinary shares, at an issue price of $4, payable $2 on application, $1 on allotment, and $1 on future call(s), dates to be determined by the directors. By 1 March, applications were received for 620,000 shares with $2 paid per share. On 6 March, the directors allotted 600,000 shares. Refunds were made to applicants for 20,000 shares. Share issue costs of $10,000 were also paid on the same date. All of the allotment money was received by 1 May. On 1 June, a first and final call for $1 was made. All of the call money was received by 1 July 2021. Required Prepare the journal entries to record the transactions of Pine Ltd for the events outlined above. Narrations are not required. Template for student response Date Journal entry DR/CRAmount Amount