AND explain each step

thanks a lot

Share Issue Question 9.1.4 On 1st July 20X6, Beaver Ltd issued a prospectus offering 160,000 of its Ordinary shares, payable $1.00 on Application, $1.00 on Allotment and $2.00 to be called as and when required. When applications closed on 23rd July, Applications had been received for 240,000 shares, including one applicant for 20,000 shares who had paid in full. The directors allotted the shares on 24th July as follows: 1. 2. The applicant for 20,000 shares, who paid in full, was allotted 20,000 shares. Applications for 20,000 shares were rejected and the application money was refunded. The remaining applicants were allotted 7 shares for every 10 applied for. The excess application money on these shares was to be applied in part payment of allotment money. All allotment money was received by 7th August. Required Prepare general journal entries to record all the events in connection with the share issue