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Wolfgang issue shares via installment.On 1st June they issue a prospectus to potential investors advertising that they will sell $1,000,000 shares at $1 each. Payable $0.50 on application, $0.30 on allotment, and $0.20 on call.By 15th September, the applications are all received, and 1,500,000 share applications were received. On 30th September, Wolfgang decide to refund excess applications.What journal entry should be entered on 30th September?Dr Application $250,000Cr Allotment $250,000Dr Cash $1,500,000Cr Cash Trust $1,500,000Dr Application $250,000Cr Cash Trust $250,000Dr Application $1,500,000Cr Ordinary Share Capital $1,500,000