The correct option is B Share capital account, calls in arrears account
Some shareholders fail to pay one or more installments, viz. allotment money and/or call money. When shares are forfeited all entries relating to the shares forfeited, except those relating to premium, which are already recorded in the accounting records, are reversed. Share capital account is debited with the amount called-up if shares are forfeited and credited with the respective unpaid call account or calls in arrears account, as the case may be.