Question - 43

X Ltd. issued 1000 shares of Rs. 10 each at par payable as Rs. 2 on application, Rs. 3 on allotment, Rs. 5 on 1st and final call All amounts due were received from the shareholders but shareholder who holds 200 shares did not pay Rs. 5 on calls. on his failure the company forfeiture his shares Give journal entries for the above transactions.

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