Alavanyo Company after incorporation, invited, invited application for 60,00equity shares payable on the following terms: 31 January, 2019 Payable on application GH 0.25 28 February, 2019 Payable on Allotment 0.20 31st March, 2019 Payable on First call 0.15 30 April, 2019 Payable on Second Call 0.10 0.70 Applications were received for 87,000 shares. The underwriters in consultation with the directors, decided as follows: To reject applications for 7,000 for not meeting the requirements. To give full allotment to foreign strategic investor who applied for 20,000 shares. To allot to a local institutional investor 30,000 shares out of the 40,000 shares applied for. To allot the remaining applications pro-rata. Surplus application monies are to be held to reduce the amount payable on allotment. The calls were made and paid in full by members with the exception of Mr. Alloy who failed to pay the first and second calls on the 1,400 shares allotted to him. Required: Show how the transactions will be recorded in the Companys ledgers and show the relevant statement of financial position extract. Note that Journals are required