Signal Ltd called for subscriptions for 8 million shares. The issue price per share is $3.50 to be paid in three parts: the first payment of $1.00 is to be made on application, $1.50 is to be paid within 1 month of allotment and the remaining $1.00 is to be paid within 3 months of allotment. At the end of July, when applications close, applications for 10 million shares have been received. The shares are allotted on 1 August on a pro rata basis with the excess application money to be applied against the amount due on allotment. The first and final call on the shares is made on 1 October. Assume all amounts on allotment and call are paid by the due date. What are the accounting entries to record these events? O Summary entry for July: Dr Cash at bank Cr Share capital 1 August: Dr Application Cr Allotment 10 000 000 10 000 000 8 000 000 8 000 000 Dr Allotment 12 000 000 Cr Share capital 12 000 000 Dr Application 2 000 000 Cr Allotment 2 000 000 for August Summary entry for July: Dr Bank trust Cr Application 8 000 000 8 000 000 1 August: Dr Application 8 000 000 Cr Share capital 8 000 000 Dr Allotment 12 000 000 Cr Share capital 12 000 000 Summary entry for August: Dr Cash at bank Cr Allotment Entry for 1 October: Dr Call Cr Share capital Summary entry for October: Dr Cash at bank Cr Call 10 000 000 10 000 000 8 000 000 8 000 000 8 000 000 8 000 000 O Summary entry for July: Dr Bank trust Cr Application 10 000 000 10 000 000 1 August: Dr Application 8 000 000 Cr Share capital 8 000 000 Dr Allotment 12 000 000 Cr Share capital 12 000 000 Dr Application 2 000 000 Cr Allotment 2 000 000 Dr Cash at bank 10 000 000 10 000 000 Cr Bank trust Summary entry for August: Dr Cash at bank Cr Allotment Entry for 1 October: Dr Call 7 21 10 000 000 10 000 000 8 000 000 In 200 man O Summary entry for July: Dr Application Cr Share capital 1 August: 8 000 000 8 000 000 Dr Allotment 12 000 000 Cr Share capital 12 000 000 Dr Application 2 000 000 Cr Allotment 2 000 000 Dr Cash at bank 10 000 000 Cr Bank trust 10 000 000 Summary entry for August: Dr Cash at bank Cr Allotment Entry for 1 October. 10 000 000 10 000 000 Dr Cash at bank 8 000 000 Cr Call 8 000 000