V.D. Ltd. invited applications for issuing 2,00,000 equity shares of Rs. 10 each at a premium of Rs. 6 per share. The amount per share was payable as follows:

On application – Rs. 3 (including premium Rs. 1)

On allotment – Rs. 7 (including premium Rs. 5)

On first and final call – Balance amount

Applications were received for 2,50,000 shares. Applicants for 10,000 shares were sent letters of regret and application money returned to them. Shares were allotted to the remaining applicants on a pro-rata basis. Money overpaid on application was adjusted towards the sums due on allotment.

The company received all the money due on allotment except from Agam, who was allotted 1,000 shares. 

Her shares were forfeited immediately after allotment. 

Afterwards, the first and final call was made. Seema, the holder of 2,000 shares, did not pay the first and final call on her shares.

Her shares were also forfeited. 50% of the forfeited shares, each of Agam and Seema, were reissued as fully paid-up @ Rs. 16 per share. 

Pass the necessary journal entries to record the above transactions in the books of V.D. Ltd. 

Marks-8, CBSE:2019-20/Main/02/Q-21*