Flag Plc Has Received Applications for 4 Million Shares During

Flag Plc has received applications for 4 million shares during July 2014.The shares are to be issued at a price of £2.75 per share.The 4 million shares are allotted on 15 August 2014.What are the accounting entries required to record these events?

A) $\begin{array}{|l|l|l|l|}\hline&\text { Summary entry for July } 2014 \text { : }\\\hline \mathrm{Dr} & \text { Bank trust } & 11000000 & \\\hline \mathrm{Cr} & \text { Application } & & 11000000 \\\hline & & & \\\hline &{15 \text { August 2014: }} & & \\\hline \mathrm{Dr} & \text { Application } & 11000000 & \\\hline \mathrm{Cr} & \text { Share capital } & & 11000000 \\\hline\end{array}$
B) $$\begin{array}{l}\text { Summary entry for July 2014: }\\\begin{array} { | c | l | c | c | } \hline \mathrm { Dr } & \text { Bank trust } & 11000000 & \\\hline \mathrm { Cr } & \text { Application } & & 11000000 \\\hline & & & \\\hline{ \text { August 2014: } } & & \\\hline \mathrm { Dr } & \text { Application } & 11000000 & \\\hline \mathrm { Cr } & \text { Allotment reserve } & & 11000000 \\\hline & & & \\\hline \mathrm { Dr } & \text { Cash at bank } & 11000000 & \\\hline \mathrm { Cr } & \text { Bank trust } & & 11000000 \\\hline\end{array}\end{array}$$
C) $$\begin{array}{l}\text { Summary entry for July 2014: }\\\begin{array} { | c | l | c | c | } \hline \mathrm { Dr } & \text { Bank trust } & 11000000 & \\\hline \mathrm { Cr } & \text { Application } & & 11000000 \\\hline & & & \\\hline { \text { August 2014: } } & & \\\hline \mathrm { Dr } & \text { Application } & 11000000 & \\\hline \mathrm { Cr } & \text { Share capital } & & 11000000 \\\hline & & & \\\hline \mathrm { Dr } & \text { Cash at bank } & 11000000 & \\\hline \mathrm { Cr } & \text { Bank trust } & & 11000000 \\\hline\end{array}\end{array}$$
D) $$\begin{array}{l}\text { Summary entry for July 2014: }\\\begin{array} { | c | l | c | c | } \hline \mathrm { Dr } & \text { Bank trust } & 11000000 & \\\hline \mathrm { Cr } & \text { Allotment } & & 11000000 \\\hline { 15 \text { August 2014: } } & & \\\hline \mathrm { Dr } & \text { Allotment } & 11000000 & \\\hline \mathrm { Cr } & \text { Bank trust } & & 11000000 \\\hline\end{array}\end{array}$$