Oversubscription, with excess money received on application On 1 August 2018, Prunus Ltd issued a prospectus inviting applications for 800 000 ordinary shares to the public at an issue price of $12, payable as follows $4 on application (due by closing date of 1 November) $5 on allotment (due 1 December) $3 on future call/calls to be determined by the directors By 1 November, applications had been received for 860 000 ordinary shares of which appli cants for 100 000 shares forwarded the full $12 per share, applicants for 300 000 shares for- warded $9 per share and the remainder forwarded only the application money At a directors' meeting on 7 November, it was decided to allot shares in full to applicants who had paid either the $12 or $9 on application, to reject applications for 20000 shares and to pro- portionally allocate shares to all remaining applicants. According to the company's constitution all surplus money from application Share issue costs of $11 000 were also paid was received by the due date A first call for $1.60 was made on 1 February 2019 with money due by 1 March. All money was received by the due date. A second and final call for $1.40 was made on 1 June with money due by 18 June. All money was received by the due date can be transferred to Allotment and/or Call accounts. on 7 November. All outstanding allotment money Required Prepare the journal entries to record these transactions of Prunus Ltd. (Show all workings.)