ABC Ltd was registered on 30 June 2019. The next day, the directors issued a prospectus inviting applicants for 400000 ordinary shares with an issue price of $2. The shares were payable in full on application. By 31 July, the company had received 500000 applications, together with the application monies. The directors allotted 400000 shares on 1 August and returned the money for additional applications. Required: (a) Prepare general journal entries to record the above data. (3.5 marks) (b) Enter the above data into ledgers. (3.5 marks)