Accountancy > Accounting For Companies > Accounting For Share Capital

(b) Sona Ltd. invited applications for issuing 60,000 equity shares of ₹50 each. The amount was payable as follows:
On Application: ₹20 per share
On Allotment: ₹25 per share
On First and final call: Balance

Applications for 90,000 shares were received. Applications for 10,000 shares were rejected and application money refunded. Shares were allotted on pro-rata basis to the remaining applicants. Excess money received with applications was adjusted towards sums due on allotment. Rahul, to whom 600 shares were allotted, failed to pay the allotment money and his shares were forfeited immediately. Afterwards, the first and final call was made. Mona, to whom 1,000 shares were allotted, failed to pay the first and final call. Her shares were also forfeited.

Pass necessary journal entries in the books of Sona Ltd. for the above transactions.