After getting the approval from the Securities and Exchange Commission for the issuance of 20,000 shares with no par value stock with stated value of P 20 per share, the following transactions were completed:

(a) 1,200 shares were sold for cash at P 22 per share.

(b) 500 shares were subscribed at P 23 per share.

(c) 2,000 shares were subscribed at P 24 per share with an initial payment of 20% of the total subscription price.

(d) Collected the balance of the subscription in transaction

(b) and the corresponding stock certificate was issued.

REQUIRED: Journal entries to record the above transactions using: a. Journal entry method b. Memo entry method