Goodluck Ltd. decides to issue 50,000 shares of N10 each at a Premium of N4 per share payable as: On Application N2 per share On Allotment N6 per Share (including Premium N3) On first and final Call N6 per share (including Premium N1) Over payment on applications were to be applied towards sums due on allotment only. Applications were received for 75,000 shares. Applicants for 15,000 shares were sent letters of regret and money returned to them in full. Applicants for 15,000 shares were allotted only 5,000 shares. All money due on Allotment and call was duly received. You are required to prepare the necessary journals and ledgers to record the entries of the issue.