ANNEXURE I: FORMATIVE ASSESSMENT 2 QUESTION 2 (10 marks) Treasury Ltd's issued share capital consists of 40000000 shares issued at R1.20 each. To obtain additional funding, the company announced a rights offer to all existing shareholders of one new share for every five shares held at R0,50 per share. The rights offer was announced on 1 February 2022 and was offered to shareholders registered on 2 March 2022. The closing date of the rights offer was 31 March 2022 the same date on which cash was received from the subscribers, with a share certificate issue date of 15 April 2022. Treasury Ltd received applications amounting to R2400000. The share issue costs amounted to R240 000. Underwriters Ltd undertook to take up any unsubscribed rights within six days of the announcement date of the rights offer and underwrote the rights offer at a commission cost of 2%. REQUIRED: Prepare the relevant journal entries to account for all the transactions relating to the rights offer in the records of Treasury Ltd. Dates and narrations are required for the journal entries. (10 marks) ANNEXURE I: FORMATIVE ASSESSMENT 2 QUESTION 2 (10 marks) Treasury Ltd's issued share capital consists of 40000000 shares issued at R1.20 each. To obtain additional funding, the company announced a rights offer to all existing shareholders of one new share for every five shares held at R0,50 per share. The rights offer was announced on 1 February 2022 and was offered to shareholders registered on 2 March 2022. The closing date of the rights offer was 31 March 2022 the same date on which cash was received from the subscribers, with a share certificate issue date of 15 April 2022. Treasury Ltd received applications amounting to R2400000. The share issue costs amounted to R240 000. Underwriters Ltd undertook to take up any unsubscribed rights within six days of the announcement date of the rights offer and underwrote the rights offer at a commission cost of 2%. REQUIRED: Prepare the relevant journal entries to account for all the transactions relating to the rights offer in the records of Treasury Ltd. Dates and narrations are required for the journal entries. (10 marks)