Shehzor Energy Ltd was established some time back with an authorized capital of 100,000 Common Stocks of Rs. 100 each. The company invited applications for issuance of 50,000 shares through its prospectus. The applications accompanied 50% advance payment. The Company received subscriptions for 60,000 shares on 15 March 2020. The Board of Directors decided to accept the applications for 50,000 shares and return the money to the applicants of over subscription on 31 March 2020. On 15 April, 2020 the balance 50% payment was received from the successful applicants. The shares were allotted on 30 April, 2020. Required A) Prepare accounting entries to record the above events. B) Present Balance Sheet of the Company as it would appear on 30 April, 2020.