Sargam Ltd. Invited applications for issuing 80,000 at a par. The amount was payable as follows:2, on first call *3, on second and final call 4. A!received. Shares were fully allotted to all the approaallotment money which was 1500. His shares werenot pay the first call on 375 shares applied byafter the first call. The forfeited shares were reAfterwards the second and final call was madenecessary journal entries for the above transactions13. 5 Ltd. invited applications for issuing 50000 equity shof *2 per share payable as 2 on application, 14 on anem65 on second and final call. Applications for 70000 ShareApplications for 10000 shares were rejected and the appr issuing 80,000 equity shares of 10 eachAs follows: On application - 1, on allotment *nal call 24. Applications for 75000 shares were" to all the applicants. Amar failed to pay his00. His shares were forfeited immediately. Sita didares applied by him. His shares were also forfeited"elted shares were reissued at 9 per shares fully paid up.a final call was made and was duly received. Pass theries for the above transactions in the books of Sargam Ltd.​