Sarthaks Test
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A company issued 10,000 shares of the value of Rs.10 each, payable Rs.3 on application, Rs.3 on allotment and Rs.4 on the first and final call. All amounts are duly received except the call money on 100 shares. These shares are subsequently forfeited by Directors and are resold as fully paid-up for Rs.500.Give necessary Journal entries for the transactions.

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