On 28-2-2023 the first call of ₹ 2 per share became due on 50,000 equity shares allotted by Kumar Ltd. Komal, a holder of 1,000 shares, did not pay the first call money

On 28-2-2023 the first call of ₹ 2 per share became due on 50,000 equity shares allotted by Kumar Ltd. Komal, a holder of 1,000 shares, did not pay the first call money. Kovil, a holder of 750 shares, paid the second and final call of ₹ 4 per share alongwith the first call. Pass necessary Journal entry for the amount received by opening call-in-arrear and calls-in-advance accounts in the books of the company.

[Ans. Amount received ₹ 1,01,000.]