A company issued for public subscription 50,000 equity shares of Rs. 10 each at a premium of Rs. 2 pershare payable as under: On Application Rs. 2 per share On Allotment Rs. 5 per share (including Premium) On First and Final Call Rs. 5 per share Applications were received for 75,000 equity shares. The shares were allotted pro-rata to applicants of 60,000 shares, the remaining applications being rejected. Money overpaid on allotment was utilized towards the sum due on allotment. ‘A’ to whom 2,000 shares were allotted failed to pay the allotment money and the call money. ‘B’ who was allotted 2,500 shares failed to pay the call money. These shares were subsequently forfeited after the first and final call was made. The forfeited shares werereissued to pappu at Rs. 8 as fully paid up. Pass necessary journal entries to record the above transactions in the books of the Company and show the working notes clearly.​