Rathee Ltd. invited applications for issuing 1,00,000 equity shares of Rs10 each. The shares were issued at a premium of 60%. The amount was payable as follows :

On Application and Allotment                  –Rs6per share(including

                                                                 premium Rs4)

On First and Final Call                          –Balance including premium

Applications for 1,90,000 shares were received. The allotment was made as follows :

Category A–Applicationsfor 10,000 shares were rejected.

CategoryB–Applicationsfor 1,00,000 shares were allotted 50,000shares.

Category C –Applications for 80,000 shares were allotted 50,000shares.Excess money received on application and allotment was adjusted towards sums due on first and final call.

Ali,who belonged to Category B,and had applied for 1,000shares,paid the entire amount of his share money with application.Bali, who belonged to Category C,was allotted 1,000 shares, failed to pay the firstand finalcall money.His shares were forfeited and re-issued at Rs15 per share fully paid up.

Pass necessary journal entries for the above transactionsin the books of Rathee Ltd.