S Ltd. issued 5,000 shares of Rs. 100 each at a premium of Rs. 10 each payable as follow
Channel: Doubtnut
Date: 2020-04-26

S Ltd. issued 5,000 shares of Rs. 100 each at a premium of Rs. 10 each payable as follows :  `{:("On Application","Rs. 30"),("On Allotment","Rs. 40 (including premium)"),("On First & Final Call","Rs. 40"):}`  All the shares were applied for the instalments received on due dates with the exception of the Allotment and First & Final Call on 100 shares, these shares were forefited and re-issued as fully paid @ Rs. 105 per share. Pass necessary Journal Entries in the books of the Company.