Accounting for equity:Issue by instalments, oversubscription, forfeiture and reissue

On 1 January 2012, Panorama Ltd was incorporated and a prospectus was issued inviting applications for 1,000,000 ordinary shares, payable as follows:
$3 on application (due 15 February)
$2 on allotment (due 15 March)
$1 on final call

The issue was underwritten at a commission of $10,000. By 15 February, applications had been received for 1,200,000 ordinary shares of which applicants for 200,000 shares forwarded the full $6 per share, the remainder paying only the application money.
On 16 February, the directors decided to allot shares in full to applicants who had paid the full amount and proportionally to all remaining applicants. According to the company's constitution, all surplus money from application can be transferred to allotment and/or call accounts.
The underwriting commission was paid on the 28 February. Other share issue costs of $8,000 were also paid on this date. All outstanding allotment money was received by the due date.

The final call was made on 1 May with money due by 31 May. All money was received on the due date except for the holders of 30,000 shares who failed to meet the final call. On 7 June, as provided for in the constitution, the directors decided to forfeit these shares. They were reissued, on 15 June, as paid to $6 for $5.60 cash. The balance of the forfeited shares account was returned to the former shareholders on 16 June.

Required:

Prepare the journal entries to record the transactions of Panorama Ltd up to and including that which took place on 16 June 2012. Show all workings.