If on 1 May 2022. The company offered 125 000, 7% Class B shares at face value of R40 per share. The share issue was underwritten by Last National Bank at a commission of 3% on the selling price. By 15 June 2022, the closing date for the applications, only 80% of the shares had been applied for by the public. The shares were issued on 30 June 2022. Share issue costs of R55 000 excluding the underwriters commission were paid on the same day. Kindly check if I am on right track - the general journal entries for Note 1 are as follows: 1. On May 1, 2022: o Debit Bank account for R5,000,000 (125,000 shares x R40 per share) o Credit Share Capital account for R5,000,000 (125,000 shares x R40 per share) 2. On May 1, 2022: o Debit Share Issue Costs account for R55,000 o Credit Bank account for R55,000 3. On June 15, 2022: o Debit Share Application account for R4,000,000 (100,000 shares x R40 per share) o Credit Share Capital account for R4,000,000 (100,000 shares x R40 per share) 4. On June 15, 2022: o Debit Bank account for R3,900,000 (100,000 shares x R40 per share x 0.97) o Credit Share Application account for R3,900,000 (100,000 shares x R40 per share x 0.97) 5. On June 30, 2022: o Debit Bank account for R3,920,000 (98% of the total face value of the shares issued) o Credit Share Capital account for R3,920,000 (98% of the total face value of the shares issued) o Debit Share Application account for R80,000 (20% of the total face value of the shares issued) o Credit Share Premium account for R80,000 (20% of the total face value of the shares issued) 6. On June 30, 2022: o Debit Share Issue Costs account for R150,000 (R55,000 + [125,000 x R40 x 0.03]) o Credit Bank account for R150,000