Question $2\mathrm{.}3$ Share issue, payment by instalments

L$01,2\mathrm{.}4$ OUD On July $2017,$ Pine Ldd issued a prospectus inviting applications for $600000$ ordinary shares, at

an isue price of $$7,$ payable $$2\mathrm{.}50$ on application, $$1\mathrm{.}50$ on alloment, and $$3$ on future call$($s$),$

dates $10$ be determined by the directors. By $1$ September, applications were received for $620000$

shares with $$3$ paid. On $6$ September, the directors alloted $600000$ shares. Refunds were made

to applicants for $20000$ shares. Share issue costs of $$12400$ were also paid on the same date. All

of the alloment money was received by $10$ Ccober. On I February $2018,$ a first and final call for

$$3$ was made. All of the call money was rececied by $1$ March $2018.$

Required

Prepare journal entries to recond the above transactions.