Tarcutta Ltd was incorporated on 1 July 2022. The following transactions and events occurred during the year ended 30 June 2023:

1 Sep 2022 Tarcutta Ltd makes an offer to the public for investors to subscribe for 2,000,000 shares, at an issue price of $3.00 per share, with $2.20 payable on application, $0.60 being payable within one month of allotment, and $0.20 payable on a call to be made at a later date. The issue is underwritten at a commission of $3,000.

30 Sep 2022 Applications close, with applications received for 2,200,000 shares.

10 Oct 2022 Shares are allotted in proportion to the number of shares for which applications had been made. The surplus application money was offset against the amount payable on allotment.

12 Oct 2022 The underwriters commission is paid.

10 Nov 2022 All allotment money is received.

1 Feb 2023 The call is made, with money due by 28 February 2023.

28 Feb 2023 All call money is received except for holders of 15,000 shares who fail to meet the call.

20 Mar 2023 The shares on which call money was not received are forfeited and sold as fully paid. An amount of $2.60 is received for each share sold. Costs of the forfeiture and reissue amount to $1,000 and are paid. The balance in the forfeited shares account after reissue is returned to former shareholders.

Required: Prepare the journal entries to record the transactions of Tarcutta Ltd up to and including that which took place on 20 March 2023. Show all workings and relevant dates.

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