Jupiter Ltd. issued shares of Rs. 100 each at a premium of 40% payable as follows :  `{:("O
Channel: Doubtnut
Date: 2020-04-26

Jupiter Ltd. issued shares of Rs. 100 each at a premium of 40% payable as follows :  `{:("On Application                         Rs. 50"),("On Allotment                            Rs. 70 (including premium)"),("On First & Final Call               Rs. 20"):}`  Vinita, who applied for 700 shares and to whom 400 shares were allotted on prorata basis did not pay allotment and her shares were immediately fofeited. Pass entry for forfeiture of shares.