A Ltd. has authorised capital of Rs.2,00,000. divided into shares of Rs.20 each, the whole of which is issued and subscribed at a premium of Rs.2 per share. The amount was payable as: On application and allotment Rs.12 per share (Including premium) and on first call Rs.2 per share, the balance as and when required. The application and allotment money (including premium) was duly received but a shareholder holding 500 shares failed to pay the first call and his shares were forfeited. They were later reissued fort Rs.16 per Share as fully paid-up. Give Journal entries for the above
