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Question 4: (6 marks) Rinder commences operations by issuing 2 million shares at a price of $2.50 per share, payable in full on application. Application monies are received on the 31st of July 2024 and the shares are allotted on 5 August 2024. The share issue is a result of an offer being made to the public, Provide the journal entries for the receipt of the application monies and the subsequent allotment of the shares