Hindustan Limited invited applications for 1,00,000 shares of ₹ 10 each at a price of ₹ 11 payable ₹ 4 on application (including premium), ~ 4.50 on allotment and balance on first and final call. Applications were received for 1,20,000 shares. Allotment was made as : to applicants of 80,000 shares : 100%; to applicants of 40,000 shares : pro-rata to all applicants. Excess application money was adjusted against further money payable. Mr. Rahul, to whom 1,000 shares were allotted on a pro-rata basis, failed to pay the allotment and call money. Mr. Sanjay, to whom 500 shares were allotted failed to pay the call money. All these shares were forfeited after final call. Out of these shares, 1,250 (all of Rahul) were issued to Rajiv @ ₹ 9 each. Pass necessary entries (including cash transactions) and also show Balance Sheet.