On October 1, 2018 X Ltd. offered 1,00,000 shares of Rs. 10 each payable as follows
Channel: Doubtnut
Date: 2020-04-26

On October 1, 2018 X Ltd. offered 1,00,000 shares of Rs. 10 each payable as follows :  `{:("On Application","Rs. 3 per share"),("On Allotment (November 1,2018)","Rs. 2 per share"),("On First Call (December 1, 2018)","Rs. 3 per share"),("On Second and Final Call (One month after first call)","Rs. 2 per share"):}`  Applications were received for 1,25,000 shares on October 15,2018. ASpplications for 1,20,000 shares were allotted 1,00,000 shares and the remaining applications were rejected. Give journal entries assuming that all amount have been received and the company maintains a combined account for application and allotment.