Business, 04.03.2021 09:30 sammielucero

Laxmi Ltd. forfeited Mr M’s shares who has applied for 600 shares and was allotted 400 shares failed to pay allotment money of Rs. 4 per share including premium of Rs. 2 on which he had paid

application money of Rs. 2 only-
Pass necessary journal entries for forfeiture of shares. Show your workings clearly.

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Laxmi Ltd. forfeited Mr M’s shares who has applied for 600 shares and was allotted 400 shares faile...