Radhika Ltd. invited applications for issuing 40,000 equity shares of ₹ 100 each at a premium of ₹ 50 per share. The amount was payable as follows:
On Application and Allotment – ₹ 40 per share (including ₹ 10 premium)
On First call – ₹ 45 per share (including ₹ 5 premium)
On Second and final call – Balance
Applications for 39,000 shares were received. Allotment was made in full to all the applicants. Dinu, to whom 100 shares were allotted, failed to pay the first call money. His shares were immediately forfeited. The forfeited shares were re-issued thereafter at ₹ 70 per share fully paid up. The second and final call was not yet made. Pass necessary journal entries for the above transactions in the books of Radhika Ltd.