PART B Rivergum Ltd issues 10,000 shares at $10 per share on 1 July 2020. The cost of issuing share is $2,000. According to the company policy the shareholders are required to pay $6 immediately and $4 in 12 months' time. In 12 months' time, Rivergum Ltd makes a call on the shareholders for the remaining $4 per share and the payment for this is due on 31 July 2021. The shareholders of 9,000 shares pay the required call by 31 July 2021. Rivergum Ltd forfeit 1000 shares for which shareholder fails to pay the call money by 10 August 2021. Required: Prepare journal entries on: (i) 1 July 2020, (ii) 1 July 2021, (iii) 31 July 2021, and (iv) 10 August 2021