XYZ Ltd was registered on 30 June 2020. The next day, the directors issued a prospectus inviting applicants for 200,000 ordinary shares with an issue price of $1. The shares were payable in full on application. By 31 July, the company had received 400,000 applications, together with the application monies. The directors allotted 200,000 shares on 1 August and returned the money for additional applications.

Required:

1. Prepare general journal entries to record the above data. (3.5 marks)
3. Enter the above data into the ledger tables below. (3.5 marks)

4. 	Trust account
   2020
   	Application
   2020
   	Paid-up capital
   2020
   	Bank
   2020