$5\mathrm{.}2$ Easy Heart Ltd has an authorised capital of $f800,000$ comprising ordinary shares of $f1$ each. The

shares were issued at par, payments being made as follows:

Applications were received for $1\mathrm{.}08$ million shares. It was decided to refund application monies on

$80,000$ shares and to allot the shares on the basis of four for every five applied for. The $f40,000$ excess

application monies sent by the applicants whose applications were successful are not to be refunded

but are to be held and so reduce the amount payable on allotment.

The calls were made and paid in full with the exception of two members holding a combined total

of $5,000$ shares who paid neither the first nor the second call and another member who did not pay

the second call on $2,000$ shares. The shares were forfeited and reissued to $H$ Vipond at a price of $80$p

per share.

You are to draft the ledger accounts to record the transactions.