Badger Ltd has an authorised capital of \(£ 100,000\) divided into 20,000 ordinary shares of \(£ 5\) each. The whole of the shares were issued at par, payments being made as follows:

Applications were received for 32,600 shares. It was decided to refund application monies on 2,600 shares and to allot the shares on the basis of two for every three applied for. The excess application monies sent by the successful applicants is not to be refunded but is to be held and so reduce the amount payable on allotment.
The calls were made and paid in full with the exception of one member holding 100 shares who paid neither the first nor the second call and another member who did not pay the second call on 20 shares. After requisite action by the directors the shares were forfeited. They were later reissued to B Mills at a price of \(£ 4\) per share.
You are to draft the ledger accounts to record the transactions.

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Payable on application 0.5 Payable on allotment 1.5 First call 2.0 Second call 1.0