On April 28, 2021, Fineline Co. accepted subscriptions for 10,000 of its no-par value common shares. At this time, shares were selling for $45 each. Fineline received a 40% down-payment on April 28, with the remainder due in six months. On October 28, the balance of the subscription price was received and the shares were issued. (4 marks) Required:

Prepare the journal entries required on April 28 and October 28, 2021.