103 :- Visa Ltd. offered 10,000 shares of Rs 100 each payable as follows: on application: Rs 3, on allotment: Rs 2, on first call: Rs 3, on second call: Rs 2. Public applied for 13,000 shares. Shares were allotted on pro rata to the applicants of 12,000 shares. All the shareholders have paid the amount up to allotment except Mohan, the allottee of 200 shares. His shares were forfeited. First call was then made. Forfeited shares were reissued @ Rs 9 per share, Rs 8 called-up. Second call has not yet been made. You are required to make the Cash Book and Pass the Journal entries.
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