undersubscription On 30 April, MBC Company issued 60 000 shares for $12 each, payable $4 on application, S4 on the allotment, and the remainder due by two equal calls on 30 June and 31 August Share issue costs of $6000 were paid on 31 May, Required Prepare journal entries (in general journal format) to record the share issue up to the collection of allotment money assuming: the shares were undersubscribed by 10000 shares. Paragraph B 12