Please write down the whole process of thinking and details

The equity section of the Balance Sheet of Corgi Ltd at the 30 th June 20X8 is as follows: EQUITY Share Capital $1,400,000 Reserves 121,760 Retained Profits 98,720

TOTAL. $1,620,480 Share Capital is comprised as follows: 326,000 Ordinary shares all paid to $4.00 8,000 5% Preference shares issued at $12.00 each. On the 3rd April 20X9 the company made a bonus ordinary share issue on a 1:25 basis. The bonus shares are issued at the current paid up amount of the ordinary shares and from Retained Profits.

Prepare the general journal entry/ies of Corgi Ltd to record the bonus share issue. Show your workings in the text box below and your general journal entry in the journal template after that. Narrations are not required.