Equity 1. Intan Bhd. issues 200,000 no-par value shares for cash at RM8 per share. On 31 October 2022, a prospectus is issued to the public inviting subscription of shares payable in full upon application. On 10 November 2022 , the application money received on that date is for subscription to 250,000 units of shares. The shares are then allotted to successful applicants on 31 December 2022. The company refunded the application money to unsuccessful applicants. The cost of the share issue is RM60,000. Required: a) Prepare the journal entries for the above transactions. b) Prepare the extract of statement of financial position as at 31 December 2022 after considering the journal entries. Equity 1. Intan Bhd. issues 200,000 no-par value shares for cash at RM8 per share. On 31 October 2022, a prospectus is issued to the public inviting subscription of shares payable in full upon application. On 10 November 2022 , the application money received on that date is for subscription to 250,000 units of shares. The shares are then allotted to successful applicants on 31 December 2022. The company refunded the application money to unsuccessful applicants. The cost of the share issue is RM60,000. Required: a) Prepare the journal entries for the above transactions. b) Prepare the extract of statement of financial position as at 31 December 2022 after considering the journal entries