Prepare journal entries to record the following transactions

201 7 July 1 21 31 Aug. 14 Nov 30 2018 Aug. 1 15 22 25 A prospectus was issued inviting applications for 100 000 ordinary shares at an issue price of $4, with $3 payable on application and the balance payable on 15 August 2018. The issue was underwritten at a commission of $8000. The company also o'ered those shareholders who purchased more than 1000 shares the right to acquire options for 50c each. The options allowed investors to acquire shares in Robert Ltd for $3.50 each before 30 November 2017. Applications closed with the ordinary share issue oversubscribed by 30 000. Applications were received for 20,000 options. All shares and options were allotted, and application money refunded to unsuccessful applicants for ordinary shares. The underwriter was paid their commission. By Nov 30 the price of Robert Ltd's shares was $3.55. The holders of 16,000 options exercised the options and the remainder lapsed. The rst and nal call was made on the ordinary shares for $1 per share The balance payable on the call on the ordinary shares was received from holders of 92 000 ordinary shares. The shares on which call money was not received were forfeited. The forfeited shares were placed with an institutional investor, paid to $4 on payment of $3.10. The cash was received from the nancial institution, and any balance in the forfeited shares account returned to the former shareholders. Reissue costs amounted to $600