The following selected balances are taken from the general ledger of Leather & Lace Clothing Ltd, a public company, as at 30 June 2020: Dr $ Share Capital (650 000 ordinary shares) General Reserve Retained Profits Profit and Loss Summary Account Application Interim Dividend Declared Cash Trust Cr $ 650 000 110 000 290 000 102 000 575 000 50 000 575 000 Journal entries are required for the following before financial statements can be prepared for the year ended 30 June 2020: A final cash dividend of 5 cents per share is declared. (The dividend will be paid in July 2020). Note that the company declared and paid an interim dividend in January 2020. Leather & Lace transferred $150 000 of retained profits to the general reserve. A 1 for 5 bonus share issue, valued at $1 per share, is declared from the general reserve. The shares are issued immediately. The balance in the application and the cash trust accounts relate to a proposed share issue of 500 000 ordinary shares at a price of $1 each, payable in full on application. It is decided to go ahead and issue share certificates immediately, and refund money to unsuccessful applicants. Required: Prepare the necessary entries, in general journal form, to record these events on 30 June 2020. Also prepare any closing entries that are needed. You are not required to complete narrations or posting references, however, if a calculation is involved you should show the calculation under the relevant entry. Ignore GST. [Total for Question 5 = 15 marks] General Journal Date Details Debit Credit (Alt + A)