A Company invited applications for 5,000 shares of Rs. 100 each. The amount is payable as follows :
`{:("On Application",,:,,"Rs. 20 per share"),("On Allotment",,:,,"Rs. 30 per share"),("On First Call",,:,,"Rs. 20 per share"),("On Second and Final Call",,:,,"Rs. 30 per share"):}`
Applications werer recieved for 8,000 shares. Applications for 1,000 shares were rejected and pro-rata allotment was made to the remaining applicants.
All calls were made and duly except :
(i) Ganesh, the holder of 200 shares paid the two calls with allotment.
(ii) Shiva, the holder of 300 shares failed to pay the first and second call money.
Pass necessary journal entries to record the above transactions.

Explanation

Net amount received on first call Rs. 90,000 and on Second Call Rs. 1,35,000.