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During its first year of operations, Travis Ltd had the following transactions pertaining to its capital. Cell referencing not required Issued 60,000 shares for cash at $2 per share. Issued 80,000 shares for cash at $7 per share. 01 July Required: (a) Journalise the transactions, assuming the share issues were private placements. 10 share i by private placement Debit a/c S value Credit a/c $ value 1 July - share issue by private placement Debit a/c S value Credit a/c S value Required: (b) Joumalise the 1 July and subsequent call issue assuming that it was a public offler, and that the public were invited to subscribe for 80,000 shares at $7 per share, $1.50 payable on application and $3.50 on allotment. Applications closed and shares were allotted on 1 July. All allotment money was received by 31 July. The remaining capital of $2 per share is called on 1 December and all call money was received by 31 December. Public offer for July 1 transactions monies received on application to trust a/c Debit a/c $ value Credit a/ S value the issue of shares on allotment date Debit a/c S value Credit a/c S value trust monies transterred to bank Debit a/c S value Credit a/c S value Being allotment monies due Debit akc S value Credit a/c S value 31 July Being allotment monies received Debit a/c S value Credit a/c S value Being call monies due Debit a S value Credit a/c S value 31 Being call monies received Debit a/c S value Credit ac S value