Tata Services ltd issued 40,000 shares of Rs.10 payable Rs.3 on application, Rs.5 on Allotment and Rs.2 on First and Final Call. Application for 1,00,000 equity shares were received. The excess money received on application was to be adjusted on Allotment as well as on First and Final call. Any money over that has to be returned immediately. The allotment was made as under: category Equity shares applied Equity shares allotted A 10,000 NIL B 20,000 15,000 C 30,000 15,000 D 40,000 10,000 TOTAL 1,00,000 40,000 All amounts were received as and when due except Ramesh who belonged to category B did not pay the allotment and call money on his 300 shares and Rajesh who belonged to category C did not pay the First and Final call money on his 100 shares. Give journal entries and Balance Sheet in the books of the company. Prepare a table showing the disposal of Application money