Manik Ltd. issued for subscription 25,000 Equity Shares of ₹ 10 each payable as follows:

Manik Ltd. issued for subscription 25,000 Equity Shares of ₹ 10 each payable as follows:

On application ₹ 3; on allotment ₹ 3; on first and final call ₹ 4 (three months after allotment).

Applications were received for 32,500 shares and company made allotment in full to the applicants demanding five or more shares and returned money to the applicants for 7,500 shares. One shareholder, who was allotted 500 shares, paid first and final call with allotment money and another shareholder did not pay allotment money on his 750 shares but which he paid with first and final call. Directors decided to charge and allow interest, as the case may be, on Calls in Arrears and Calls in Advance respectively according to the Provisions of Table F, as is provided in the Articles of Association. Journalise the transactions including cash transactions.