A company forfeited 300 shares of ₹10 each (₹9 called up) on which ₹4 of allotment and the first call of ₹2 has not been received. Out of these, 100 shares were re-issued as fully paid up for ₹9 per share. How much amount will be transferred to the share forfeiture account by the company?

₹500 ₹600 ₹700 ₹900

₹900

Amount called up = 300 X 9 = ₹2700 Amount forfeited = 300 X 3 = ₹900(Received amount)