Vatika Ltd. has authorised capital of ₹ 2,00,000, divided into shares of ₹ 20 each, the whole of which is issued

Vatika Ltd. has authorised capital of ₹ 2,00,000, divided into shares of ₹ 20 each, the whole of which is issued and subscribed at a premium of ₹ 2 per share. The amount was payable as follows:

On application and allotment ₹ 12 per share (including premium), and on first call ₹ 2 per share, the balance as and when required.

The application and the allotment money (including premium) were duly received but a shareholder holding 500 shares failed to pay the first call and his shares were forfeited. They were later reissued for ₹ 16 per share fully paid.

Pass Journal entries for the above. Also, prepare Securities Premium Account and Share Capital Account.