A company forfeits 100 shares of Rs.10 each issued at Rs.11 per share. The premium was payable on application. The shareholder failed to pay allotment money of Rs.3 per share and the call money of Rs.2 per share. Pass the journal entry for forfeiture.

Priyanka Mardi

Oct. 4, 2017, 9:01 p.m.

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