Irridium Ltd Had a Share Capital of 500 000 $1 $\begin{array}{lll}\text { Dr Bank } & \$ 100000 & \\\text { Cr Bonus issue } & & \$ 100000 \\\end{array}$

Irridium Ltd had a share capital of 500 000 $1 ordinary shares fully paid.The company decided to make a new share issue of 100 000 $1 shares, payable in full on application.These shares had to be first offered to existing shareholders.Supposing that the issue was fully subscribed by the existing shareholders by 31 January 2010, what would be the correct journal entry?

A)
$\begin{array}{lll}\text { Dr Bank } & \$ 100000 & \\\text { Cr Bonus issue } & & \$ 100000 \\\end{array}$

B)
Dr Bank $\quad \$ 100000$
Cr Paid up capital—ordinary $\quad \$ 100000$
C)
$\begin{array}{llcc} \text { Dr Trust account } & \$ 100000 \\ \text { Cr Application} && \$ 100000\\\end{array}$


D)
$\begin{array}{llcc} \text { Dr Bank } & \$ 100000 \\ \text { Cr Allotment} && \$ 100000\\\end{array}$