85 :- The Directors of a company forfeited 300 shares of Rs 10 each issued at a premium of Rs 3 per share, for the non-payment of the first call money of Rs 2 per share. The final call of Rs 2 per share has not been made. Half the forfeited shares were reissued at 1,500 as fully paid–up. Record the Journal entries for the forfeiture and reissue of shares.
Solution :-
