Question

a company forfeited 100 shares of 10 each issued at 20% premium (to be paid at the time of allotment) on which first call money of 3 was not received, the final call money of 2 is not yet called. these shares were subsequently re-issued at 7 per share as 8 paid up. give necessary journal entries regarding forfeiture and reissue of shares ​

Answer 1

Explanation:

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