BBFA2203/MAY 2020/LM 2. a) Peco Bhd. was formed on 1 July 2019. The Board of Directors decided to issue 400,000 ordinary shares at RM2.40 to the public. The issue price was payable in full on application. A prospectus was issued with closing date for applications being 1 September 2019. At this date applications had been received for 400,000 shares. The shares were allotted on 3 September 2019. Prepare the journal entries for the above transaction. (6) b) Deco Bhd. was formed on 1 July 2019. The Board of Directors decided to issue 400,000 ordinary shares and is payable as follows: RM1.00 on application RM0.80 on allotment A further call (or calls) of the remaining RM0.60 when required by the Board of Directors A prospectus was issued with closing date for applications being 1 September 2019. At this date RM400,000 had been received with applications for 400,000 shares. The shares were allotted on 3 September 2019. All allotment money was received at 2 October 2019. Prepare the journal entries for the transaction above. (14) (Total/ Jumlah: 20) [Maximum 4 pages Maksimum 4 muka surat]