Question 2.3 Share issue, payment by instalments L01,2,4 O On 1 July 2017, Pine Ltd issued a prospectus inviting applications for 600000 ordinary shares, at an issue price of $7, payable $2.50 on application, $1.50 on allotment, and $3 on future call(s), dates to be determined by the directors. By 1 September, applications were received for 620000 shares with $3 paid. On 6 September, the directors allotted 600000 shares. Refunds were made to applicants for 20000 shares. Share issue costs of $12 400 were also paid on the same date. All of the allotment money was received by 1 October. On 1 February 2018, a first and final call for $3 was made. All of the call money was received by 1 March 2018. Required Prepare journal entries to record the above transactions