JJK Ltd. invited applications for issuing 50,000 equity shares of ₹ 10 each at par. The amount was payable as follows: On Application — ₹ 2 per share, On Allotment — ₹ 4 per share; and On First and Final call — Balance Amount. The issue was oversubscribed three times. Applications for 30% shares were rejected and money refunded .Allotment was made to the remaining applicants as follows: Category No . of Shares Applied No. of Shares Allotted I 80,000 40,000 II 25,000 10,000 Excess money paid by the applicants who were allotted shares was adjusted towards sums due on allotment .Deepak, a shareholder belonging to Category I , who had applied for 1,000 shares ,failed to pay the allotment money. Raju, a shareholder holding 100 shares, also failed to pay the allotment money. Raju belonged to Category II. Shares of both Deepak and Raju were forfeited immediately after allotment . Afterwards, first and final call was made and was duly received . The forfeited shares of Deepak and Raju were reissued at ₹11 per share fully paid-up.Pass necessary journal entries for the above transactions in the books of company.