Y Ltd. forfeited 1,000 equity shares of ₹10 each, ₹7 called-up, issued at a premium of 20% (to be paid at the time of allotment) for non-payment of allotment money of ₹4 per share (including premium) and first call of ₹2

Y Ltd. forfeited 1,000 equity shares of ₹10 each, ₹7 called-up, issued at a premium of 20% (to be paid at the time of allotment) for non-payment of allotment money of ₹4 per share (including premium) and first call of ₹2 per share. Out of these, 600 shares were re-issued as fully paid-up for ₹8.50 per share. Pass the journal entries for forfeiture and re-issue of shares.