ML Limited forfeited 1,200 shares of Rs. 10 each allotted to Ravi for Non-payment of "Second & Final Call" of Rs. 5 per share (including premium of Rs. 2 per share). The forfeited shares were reissued for Rs. 10,800 as fully paid up. Pass necessary Journal entries for reissue of shares in the books of ML Limited.

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Bank a/c 10800 Share Forfeited a/c 1200 To Equity Share Capital a/c 12000 Share Forfeited a/c 7200 To Capital Reserve a/c 7200
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