Question Completion Status: QUESTION 8 5 points Save Answer Tex Suppliers Ltd was formed with an authorised share capital of 120 000 ordinary shares of no par value. The subscribers to the memorandum subscribed for 6 000 shares at R1,10 each and paid for them in full. A further 90 000 shares were offered to the public at R1,25 per share payable in full on application. The issue was underwritten by Dolphine Merchant Bank for a commission of 6%, which was settled in cash. Subscriptions were received for 84 000 shares. Required: Prepare the journal entry of the net payment to/from Dolphines Merchant Bank Account name Debit and Credit Rand Dr Bank (SFP) Dr cr Net payment to/from from underwriter Save AlAnave's Sove anks