Question On 1st January 2021, DBC Limited makes an issue of 10 000 ordinary shares of K1.00 each and 10 000 6% Preference shares of K1.00 each, both at par, payable as follows: Ordinary shares Preference shares K K On Application 0.10 0.25 On Allotment 0.15 0.35 On First Call 0,50 0.40 On Second Call 0.25 Journalise, assuming that the precise numbers are applied for and all payments are made at due dates. For the purpose of giving a clear view of the transactions journalise the cash entries, although, in practice, these would be made in the Cash Book and posted direct to the Ledger. (Do not post the entries to the applicable accounts)