The equity of Oscar Ltd on 30 June 2023 consisted of: Share capital: 100 000 10% cumulative pref. shares issued at $1, fully paid 200 000 ordinary shares issued at $2, paid to $1.50 General reserve Retained earnings $ 100,000 300,000 25,000 180,000 The following transactions occurred during the year ended 30 June 2024: 2024 9 Jan Final call made on 200,000 partly paid ordinary shares. 9 March All call money received except for the holders of 5,000 shares who failed to meet the final call. 2 April As provided in the constitution, the directors decided to forfeit the 5,000 shares on which calls were unpaid. 28 April The forfeited shares were reissued as fully paid for a consideration of $1.80 per share. 30 April Cost of forfeiture and reissue of $1,750 were paid. 1 May The balance of the forfeited shares account was returned to the former shareholder. The constitution provides that any loss or expense associated with any forfeiture of shares should be borne by the forfeited shareholders. Required: Prepare relevant journal entries to record the above transactions. (8 marks) Did you use a cash/bank trust account in your answers above? Why? (2 marks)