Question 2 Iron Berhad was formed on 1 January 2018. The directors decided to issue 1,000,000 ordinary shares at RM2.00 to the public to fund the company's strategic expansion plans in Australia and New Zealand. The issue price was payable in full on application. A prospectus was issued with the closing date for applications being 1 July 2018. At this date, applications had been received for 600,000 shares. The shares were allotted on 27 August 2018. Required: What are the journal entries to record the issue of shares? Question 3 Using the scenario in Question 2 above, the issue price of RM2.00 is now payable as follows: RM1.00 on application RM0.60 on allotment a further call (or calls) of the remaining RM0.40 when required by the Board of Directors A prospectus was issued with the closing date for applications being 1 July 2018. At this date, RM600,000 had been received with applications for 600,000 shares. The shares were allotted on 27 August 2018. All allotment money was received by 10 September 2018. Required: What are the journal entries to record the issue of shares