Alfa Ltd. invited applications for issuing 75,000 equity shares of Rs. 10 each. The amount was payable as follows:

 On application and allotment  Rs. 4 per share
 On first Call Rs. 3 per share
 On second and final Call Balance

Applications for 1,00,000 shares were received. Shares were allotted to all the applicants on pro rata basis and excess money received with applications was transferred towards sums due on first call. Vibha who was allotted 750 shares failed to pay the first call. Her shares were immediately forfeited. Afterwards the second call was made. The amount due on second call was also received except on 1,000 shares applied by Monika. Her shares were also forfeited. All the forfeited shares were reissued to Mohit for Rs.9,000 as fully paid-up.
Pass necessary journal entries in the Books of Alfa Ltd. for the above transactions.


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