as soon as possible

Denmark Ltd makes an offer to the public for investors to subscribe for 10 million shares. The shares are issued at $2.00 per share. Applications for shares close on 15 July 2023, with 81.00 being paid on application and a further 51.00 being payable within one month of allotment. By 15 July 2023 applications have been received for 11 million shares and it is decided that all subscribers will receive shares on a pro rata basis with any excess paid on application to be offset against the amount due on allotment. The shares are allotted on 20 July 2023 1 Subsequently, holders of 1 million shares fail to make their payments due on allotment by 20 August 2023. 00 31 August the 1 million shares are forfeited and auctioned as fully paid. An amount of 51 50 is received for each share sold, REQUIRED Provide the journal entries to account for the above events. BIE ENG 1137 AM WRORI 15 154