The following is the equity of Bowral Ltd at 30 June 2019.

Share capital (200 000 fully paid ordinary shares) $ 400 000

General reserve 200 000

Retained earnings 10 000

The transactions below occurred during the year ended 30 June 2020.

2019 July 1 Prospectus issued inviting offers for 200 000 shares to be issued for $3 per share. These shares were offered to existing shareholders on the basis of 1 share for every 2 shares at present held. Shares were payable in full on application and rights to the issue were transferable. The prospectus provided that these shares were to rank equally with existing shares from 1 July 2019. The issue was underwritten for a commission of $5000.

In addition, 200 000 shares were privately placed with QLM Insurance Ltd at $2.80 per share, and these shares were to rank for dividend purposes from 1 October 2019.

July 31 The issue closed fully subscribed, the holders of 40 000 shares having transferred their rights. Directors proceeded to allotment.

Aug. 1 Underwriting commission paid.

Sept. 22 At the annual general meeting, shareholders approved a final dividend of 15c per share for the year ended 30 June 2019. The dividend had not been recorded in the accounts for the year ended 30 June 2019. Dividends were paid by direct debit to shareholders after the close of the meeting. Dividends were paid from General Reserve.

Required

(a) Prepare entries in general journal format to record the above transactions.