Rick Transport Ltd is a public company. In September 2018, the management of company decided on a a program of expansion for the business. The following events occurred after 1 September 2018: 2018 September 5 27 . . Rick Transport Ltd allotted 35,000 ordinary shares to the original members. The shares were fully paid at a price of $1.50 To finance the future expansion, a prospectus was issued to the public for 150,000 ordinary shares for the price of $3.50. The term of the issue per share was $1 payable on application, $1.50 payable on allotment, and the balance due in one call. Applications were received for 285.000 shares. The directors allotted the shares as follows: application for 35,000 shares were rejected and the application money was refunded the remaining applicants were allotted 3 shares for every 5 shares applied for. The excess application money on these shares was applied against amounts owing on allotment. Balance of the allotment money was received 25 October 3 . 19 2019 March N00 8 27 The call was made by directors. The call money was received, but the holders of 15,000 shares did not pay for the call Required: Prepare the general journal entries to record the above transactions. Where required, provide the necessary workings 15 Marks