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xyz limited has been registered with an authorised capital of 200000 divided into 2000 share of 100 each of which 1000 share were offered for public subscription at a premium 5 per share payable as under and application 10 on allotment 25 including a premium on first call 40 and final call 30 application received the for 1800 share of which application for 300 share were rejected outright the rest of application were allotted 1000 share on Pro Rata basis access application money was transferred to allotment all the monies were duly received except from mohan holder of 100 share who failed to pay the allotment and first call money his share were forfeited, and re issued to sahil at 60 per share 70 paid up final call has not been made pass necessary cash book and journal entry in the book of k limited​

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