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Ekon Limited Ekon Limited was incorporated on 1 January 2019 with an authorised share capital comprising 100 000 no par value ordinary shares On 31 March 2019, the company purchased the following assets from Pawn Shops: Equipment R 10 000 Delivery Vehicles R33 000 Inventory R35 000 These purchases were paid for with the issue of 30 000 no par value ordinary shares. On 30 June 2019. the company offered a further 50 000 ordinary no par value shares to the public at R3 per share. On 31 July 2019, applications and the necessary funds were received for 55 000 shares and the directors decided to issue the shares available and return all excess applications, Commission of 2% on total issue price was paid to the underwriters. Source: Makumre L 2020.
Required
Problem 1: Prepare journal entries in the general journal of Ekon Limited to record the above transactions (cash transactions included)
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