Question - journalise all the share transactions

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Question - On 1 March 2020, JK Limited was incorporated with an authorised share capital of 350 000 ordinary shares and 200 000, 5% preference shares. 50 000 ordinary shares at R2.50 each and 40 000, 5% preference shares at R3.70 each were offered to the public. By 1 May 2020, applications for 55 000 ordinary shares and 40 000, 5% preference shares had been received. The shares were allotted on the 5th of May 2020 and all surplus application money was returned to unsuccessful applicants.

Required - Journalise all the share transactions. Narrations are not required.

Reference no: EM132622247

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