A limited company offered for subscription 10,000 Equity Shares of Rs 10 each at a premium of Rs 2 per share and 5,000, `10%` Preference Shares of Rs 10 each at par.
The amount on equity shares was payable as thus :
`{:("On Application","Rs 3 per share"),("On Allotment","Rs 5 per share ( including a premium)"),("On Fist Call","Rs 4 per share"):}`
The amount of preference shares was payable as follows :
`{:("On Application","Rs 3 per share"),("On Allotment","Rs 4 per share"),("On Fist Call","Rs 3 per share"):}`
All the shares were fully subscribed, called-up and paid.
Record these transactions in the journal and cash book of the company.

Explanation