Kusasa Limited was formed on 1 January 2015 with an authorised capital consisting of 150 000 ordinary shares. The subscribers to the memorandum subscribed for and paid for 4 000 ordinary shares at R1 each and were allotted the shares on 1 January. The company then offered to the public 96 000 ordinary shares at R1.10 per share. The issue was fully underwritten by Martin Finance House for a commission of 6% of the issue price. The public applied for 90 000 ordinary shares and all application money was received by 4 January. The shares were allotted on 8 January. On the same date the company paid the underwriting commission and share issue expenses of R3 000. On 28 February the company purchased the following assets: Motor vehicles Furniture and equipment R80 000 R30 000 During the year the company made a profit of R10 556. The bank balance on 31 December 2015 was R820. REQUIRED: (a) Journal entries to record the above transactions. Narrations may be omitted. Closing entries are not required.