On the 15^th August, 2020 BNE Ltd issued a prospectus inviting the public to apply for 200,000 shares at $3 each in their company. The shares were payable $1 on application and $2 on allotment.

Applications closed on the 30^th September, 2020 with applications received for 225,000 shares at that date. On that date, the shares were allotted, and all allotment money was received by 30^th November, 2020.

REQUIRED:

Journalise the above transactions