Ganesh Limited offered to the public 1,00,000 equity shares of 10 each at a premium of 2 per share, payable as follows: On Application On Allotment On first call On Second and Final Call 3 *4 (including premium) 3 2 Application were received for 1,60,000 shares. All applications were placed under four categories and allotment was made as follows: Category A: To applicants of 40,000 shares Category B: To applicants of 60,000 shares Category C: To applicants of 30,000 shares in full 40,000 shares 20,000 shares Nil Category D: To applicants of 30,000 shares Except in the case where applications were wholly rejected, excess application money was not to be refunded but to be adjusted against money due on allotment and calls. Arun, an applicant under category B who applied for 2,400 shares failed to pay the allotment money and, on his failure, to pay the first call his shares were forfeited. Bimal, an applicant under category C who applied for 1,200 shares failed to pay both the calls and his shares were also forfeited after the second and final call. All the forfeited shares were reissued to Charan as fully paid for *8.50 per share. Pass the necessary journal entries in the book of Ganesh Ltd.