The share capital of Bailey Lid on 30 June 2022 was: Time Share capital: 400 000 'A' ordinary shares issued at $4 paid to $2.00 $800,000 300,000 'B' ordinary shares issued at $4, fully paid $1,200,000 $2,000,000 Required Prepare journal entries to record the following transactions in the records of Bailey Ltd 01 Nov 2022 The company makes a 1-for-2 rights offer to its 'B' ordinary shareholders. The rights are renounceable a allow holders to obtain 'B' ordinary shares for $3 per share, payable in full on application. 30 Nov 2022 The holders of 12 000 B' ordinary shares accept the rights offer by the expiry date. The shares are duly allotted and all money is received. 16 Jan 2023 A call of $2 per share is made on all 'A' ordinary shares. All call money except that owing by the holder of 20,000 shares is received by 31 January. 05 Feb 2023 Shares on which calls are unpaid are forfeited and cancelled, as per the company's constitution. Search