AKONFEM Ltd. is issuing 10,000 shares on the following terms: On Application GHC400 Allotment -GHC300 First Call GHC200 Final Call GHC100 Applications have been received for 18,000 shares, which they decided to deal with them as follows: On 5 th March 2014 they decided to reject applications for 3,000 shares and the monies so received are refunded Applications for 6,000 shares were accepted in full and Applications for 9,000 shares were accepted pro-rata. Any excess application monies so received were transferred to allotment and call accounts. Any excess application money still remaining is to be repaid. The allotment monies were due on March 30th 2014. The first call was made on 5th May 2014. The final call was made on 1st June 2014 , and on that date an applicant to whom 500 shares have been allotted defaulted. The shares were subsequently forfeited and re-issued to Opele at GHC 600 each payable on application. Prepare the necessary ledger accounts and show the extract of the Statement of