The share capital of Red Ltd on 30 June 2019 was: Share capital: 120 000 'A' ordinary shares issued at $3.30, paid to $2.00 $240,000 70,000 'B' ordinary shares issued at $3, fully paid $210,000 $450,000 Required Prepare journal entries to record the following transactions in the records of Red Ltd. (Show all workings) 01 Nov 2019 The company makes a 1-for-6 rights offer to its 'B' ordinary shareholders. The rights are renounceable and allow holders to obtain 'B' ordinary shares for $4 per share, payable in full on application. 30 Nov 2019 The holders of 30 000 'B' ordinary shares accept the rights offer by the expiry date. The shares are duly allotted and all money is received. 16 Jan 2020 A call of $1.30 was made on A ordinary shares. All call money was received except for the holders of 20 000 shares. 18 January 2020 The shares of unpaid calls were cancelled and forfeited