White Ltd has been investigating the expansion of the company into new areas of development. In order to fund these new investments the company needs an increase in equity. On 1 April 2022 the company decided to make a public issue to raise $1800000 for new capital development. The company issued a prospectus inviting applications for 600000 $3 shares, payable in full on application. There was an additional incentive offered by White Ltd to investors, as those shareholders who acquired more than 30000 shares were allowed to acquire options at 50 cents each. These options allowed the investors to acquire shares in White Ltd at $3.20 each, the acquisition having to occur before 30 November 2022. White Foam Ltd had received applications for 750000 shares and 60000 options by 10 May. On 28 May the shares and options were allotted and money returned to unsuccessful applicants. All applicants who acquired options also received shares. By 30 November 2022 the price of each of White Foams shares was $3.35. Holders of 54000 options exercised their options in November, with the remaining options lapsing. Required Prepare the journal entries in the records of White Foam Ltd in relation to the above events.