Question
One of Sagaris next big steps is to break into the wholesale marketplace. In order to do raise the necessary capital required to develop a
One of Sagaris next big steps is to break into the wholesale marketplace. In order to do raise the necessary capital required to develop a range of vegan products and expand into the wholesale market, the business becomes a publicly listed company - Sagari Ltd. On 1st July 2020, Sagari Ltd released a prospectus seeking 30,000 shares valued at $8 each. The prospectus required investors to pay $4 on application, $3 on allotment and $1 on call. The deadline for applications was 24 July and on that date, Sagari Ltd received 30000 applications. The shares were allotted on 20 August with payment received on 28 August. A call was made on 3rd September and the call money was received on 23 September. Sagari Ltd declares cash dividends of $15,000 on 1 December 2020. These dividends are paid on 28 December 2020. Required: Journalise all the transactions represented by the events described above, including all relevant dates.
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