Prepare journal entries to record the following transactions for Leon Ltd in 2020 and 2021. 2017 July 1 A prospectus was issued inviting applications for 100 000 ordinary shares at an issue price of $6, with $3 payable on application and the balance payable in a call on 15 August 2021. The issue was underwritten at a commission of $8000. The company also offered those shareholders who purchased more than 1000 shares the right to acquire options for 80c each. The options allowed investors to acquire shares in Leon for $5 each (paid to $6) before 30 November 2020. 21 Applications closed with the ordinary share issue oversubscribed by 15 000. Applications were received for 25,000 options. 31 All shares and options were allotted, and application money refunded to unsuccessful applicants for ordinary shares. Aug. 14 The underwriter was paid their commission. Nov 30 By Nov 30 the price of Leon Ltds shares was $5.20. The holders of 23,000 options exercised the options and the remainder lapsed. 2021 Aug. 1 The first and final call was made on the ordinary shares for $3 per share. 15 The balance payable on the call on the ordinary shares was received from holders of 99 000 ordinary shares. 22 The shares on which call money was not received were forfeited. 25 The forfeited shares were placed with an institutional investor, paid to $6 on payment of $5.20. The cash was received from the financial institution, and any balance in the forfeited shares account returned to the former shareholders. Reissue costs amounted to $500.