On 1st January, 2016 the first call of Rs. 3 per share became due on 1,00,000 equity shares issued by Kamini Ltd. Karan a holder of 500 shares did not pay the first call money. Arjun a shareholder holding 1,000 shares paid the second and final call of Rs. 5 per share along with the first call.
Pass the necessary Journal entry for the amount received by opening 'Calls-in-Arrears' and 'Calls-in-Advance' Account in the books of the company.

Explanation

Note: The question requires a Journal entry for the transaction. Therefore, a single entry has been passed.