Sarijan Limited issued Rs. 10,00,000 new capital divided into Rs. 100 shares at a premium of Rs. 20 per share, payable as under :
`{:("On Application","Rs. 10 per share"),("On Allotment","Rs. 40 per share (including premium of Rs. 10 per share)"),("On First and Final Call","Balance"):}`
Over-payments on applicatio were to be applied towards sums due on allotment and first and final call. Where no alotment was made, money was to be refunded in full. The issue was oversubscribed to the extent of 13,000 shares. Applicants for 12,000 shares were allotted only 2,000 shares and applicants for 3,000 shares were sent letters of regret and application money was returned to them. All the money due duly received. Give Journal Entries to record the above transactions (including cash transactions) in the books of the company.