Q. C Ltd. Issued 1000 equity shares of Rs. 10 each at premium. Rs 5 payable at application; and Rs 7 payable at allotment. The company received application money for 2000 shares. 500 Applications were rejected. Remaining 1500 applications were issued shares on pro-rata basis. 100 shares holders could not pay money due on allotment hence their shares were forfeited and reissued at Rs. 7. Pass journal entries.