Suncity Ltd. issued for public subscription 50,000 Equity Shares of ₹ 10 each at a premium of ₹ 2 per share, payable as under:

Suncity Ltd. issued for public subscription 50,000 Equity Shares of ₹ 10 each at a premium of ₹ 2 per share, payable as under:

On application	₹ 2 per share;
On allotment	₹ 5 per share;
On first call	₹ 2 per share;
On final call	₹ 3 per share;

Applications were received for 75,000 Equity Shares. The shares were allotted on pro-rata basis to the applicants for 60,000 shares, the remaining application being rejected. The money overpaid on applications was utilised towards the sum due on allotment. Kamal, to whom 2,000 shares were allotted, failed to pay the allotment and the calls money and Kishore, to whom 2,500 shares were allotted, failed to pay the two calls. These shares were, subsequently, forfeited after the final call was made. All the forfeited shares were reissued to Arvind as fully paid-up @ ₹ 8 per share. Pass Journal entries to record the above transactions.