Golder Jute Ltd. made an issu of 10,000 shares of Rs. 10 each payable Rs. 3 on Application, Rs. 3 on Allotment, Rs. 2 on First Call and Rs. 2 on Second Call. All the amounts were received, except the following :
X Who holds 100 shares paid Application, Allotment and First Call.
Y Who holds 200 shares has paid Application and Allotment.
Z Who holds 300 shares has paid only Application money.
The Company forfeited the shares of defaulting shareholders and re-issued 200 of the above shares at a discount of 2%, credited as fully paid. Prepare Cash Book and Forfeited Shares A/c.

Explanation