Sunrise company limited offered for public subscription 10000 shares of 10 each at 11 per share. money was payable as follows: 3 on application, 4 allotment ( including premium) , 4 on first and final call. applications were received for 12000 shares and the directors made pro-rata allotment. mr. ahmad, an applicant for 120 shares, could not pay the allotment and call money and mr. basu, a holder of 200 shares, failed to pay the call. all these shares were forfeited. out of the forfeited shares, 150 shares ( the whole of mr. ahmad's shares being included ) were issued at 8 per share. record journal entries for the above transactions and prepare the share forfeited account.