A company offers 20,000 shares of Rs.10 each to the public for subscription .The money is payable as follows : Rs.4 on application, Rs.3 on allotment and Rs. 3 on first and final call The company receives application for 25,000 shares .The directors decided to allot 20,000 shares on pro-rata basis and surplus application money was utilized for allotment. Pass journal entries assuming that the amounts due were received
