A company offers 10,000 shares of Rs. 10 each to the public. The amount is payable as follows :
Channel: Doubtnut
Date: 2020-04-26

A company offers 10,000 shares of Rs. 10 each to the public. The amount is payable as follows :  `{:((i),"On Application","Rs. 3 per share"),((ii),"On Allotment","Rs. 2 per share"),((iii),"On 1st call","Rs. 3 per share"),((iv),"On Iind call","Rs. 2 per share"):}`  Applications are received for 15,000 shares.  The directors made allotment as follows :  (i) No allotment to applicants for 3,000 shares  (ii) Rest of the shares were allotted on pro-rata basis.   All calls duly made and paid except :  (i) Mohan, a holder of 100 shares paid the two calls with allotment.  (ii) Shohan, a holder of 200 shares fails to pay the 1st and 2nd calls money.  (iii) Rohan, a holder of 100 shares fails to pay the 2nd call money.  Pass the necessary journal entries to record the above transactions.