Journal Entries

R Co. Ltd. issued 5,000 shares of Rs. 100 each, payable Rs. 20 on application, Rs. 30 on allotment, Rs. 25 on first call, and Rs. 25 on second & final call. Applications were received for all the shares. Sohan, who was allotted 50 shares, did not pay first and second calls. All other amounts were received. The company forfeited shares held by Sohan and reissued them as fully paid shares for Rs. 3,000. Pass necessary journal entries in the books of the company.