Ivanhoe Ltd. offered to sell common shares on a subscription basis. Each subscription allowed for the purchase of 34 shares at a price of $10 per share. Terms of the subscription stated that subscribers were to pay 30% of the price as a down payment, with the remainder due in six months. On October 1, 2021,56 subscriptions were sold. Six months later, on April 1, 2022, only 45 of the subscriptions were fully paid for. According to the subscription contract, the company would retain the down payment on any defaulted subscriptions. Prepare the journal entries to record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit (To record sale of shares on a subscription basis) (To record collection of down payment) (Collection of share subscriptions receivable) (To record issuance of shares) (To record forfeit of payment from defaultin ribor) Prepare the October 1 journal entry, assuming instead that Ivanhoe refunded the down payment on the defaulted subscriptions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit