On 1 July 2016, Beech Ltd issued a prospectus inviting applications for 1000 7.5% unsecured notes of $200 each, payable in full on application. By 31 August, the company received applications for 920 of the notes and they were subsequently allotted. The notes were classified as a liability in the financial statements.

On 30 June 2019, the company decided to redeem the notes in cash on the open market, at a premium of $4 per note.

Required

Ignoring interest, prepare the ledger accounts to record the above transactions.