Y Ltd. forfeited 1,500 shares of …
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Y Ltd. forfeited 1,500 shares of ₹ 10 each (7 called-up) for non-payment of the allotment money of 4 per share including as premium. Of these 1,000 shares were re-issued to M at 6 per share as ₹7 called-up. Journalise the above transactions in the books of Y Ltd.
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