A limited company issued 90,000 shares of ₹ 10 each at a premium of ₹ 3 per share payable as follows :
On application ₹ 6 (including premium) per share, on allotment ₹ 5 per share and on call ₹ 2 per share. Applications were received for 2,79,600 shares and allotment were made as under :
(a) Applicants for 64,500 received 30,600 shares.
(b) Applicants for 1,51,800 received 37,800 shares.
(c) Applicants for 63,300 received 21,600 shares. Amount received with application, after satisfying application money, was applied towards allotment and call money and any balance was then returned. One shareholders falling in the category (c) mentioned above failed to pay allotment in respect of 100 shares and these shares were immediately forfeited. Show Journal Entries in the books of the company.