The Mohan Ltd., has authorised capital of Rs. 5,00,000 divided into 50,000 shares of Rs. 10 each. The company issued a prospectus inviting applications for 30,000 shares of Rs. 10 each at a premium of Rs. 2 per share, payable as follows : On Application Rs. 3, On Allotment Rs. 5 (including premium), On First Call Rs. 2 , On Second and Final Call Rs. 2. The Company received applications for 45,000 shares and pro-rata allotment was made in respect of applications of 40,000 shares and the remaining applications were rejected. Money overpaid on applications was employed on account of sums due on allotment. All the calls were made. B, to whom 300 shares were allotted failed to pay the two calls. The company decided to forfeit the shares allotted to B. These shares were subsequently re-issued to C as fully paid for Rs. 9 per share. Pass the necessary journal entries in the books of the company and prepare the Opening Balance Sheet.