Play Palace (Pty) Ltd is a newly incorporated company with a 31 December 2023 financial year end.

• The entity has 150 000 authorised ordinary shares with no par value.

• On the 2nd of February 2023, legal fees, relating to the start-up of the company were paid in cash amounting to R25 000.

• The 2 directors of Play Palace (Pty) Ltd each bought 3 000 ordinary shares at the initial issue price of R8 per share. The share issue took place on the 4th of February 2023. Share issue costs with regard to the initial issue amounted to R1 500.

• On the 1st of May 2023, the directors published a prospectus to the public with an invitation

Prepare the journal entries to account for the share transactions in the records of Play Palace (Pty) Ltd for the financial year ended 31 December 2023.
Dates and narrations are not required.