Saya Ltd. invited applications for 75,000 Equity Shares of ₹ 100 each on the following terms

Saya Ltd. invited applications for 75,000 Equity Shares of ₹ 100 each on the following terms:

	₹
On application	30
On Allotment	20
On first and final call	50

Applications were received for 1,65,000 shares. It was decided to (i) refuse allotment to the applicants for 15,000 shares; (ii) allot 50% to Abhay who had applied for 30,000 shares; (iii) allot in full to Bhanu who had applied for 30,000 shares; (iv) allot balance of the available shares on pro-rata basis among other applicants; and (v) utilise the excess application money in part payment of allotment and the final call. Give Journal entries till the state of allotment assuming that the entire sum due on allotment was received in full.