Manvet Ltd. invited applications for issuing 10,00,000 equity shares of Rs.   10 each payable as follows :

On application and allotment Rs.   4 per share (including premium Rs.   1)

On first call Rs.   4 per share,

On second and final call Rs.   3 per share.

Applications for 15,00,000 shares were received and pro-rata allotment was made to all the applicants. Excess application money was adjusted on the sums due on calls. A shareholder who had applied for 6,000 shares did not pay the first, and the second and final call. His shares were forfeited. 90% of the forfeited shares were reissued at Rs.   8 per share fully paid up.

Pass necessary journal entries for the above transactions in the books of the company.

Marks-8, CBSE:2017-18/Comp/Q-16*