On March 1, Kramers Inc. sells 1,000 common shares to its employees at $25 per share and lends the money to the employees to buy the new shares. The employees pay 50% of the price on the transaction date and pay the balance in one year. (a) Prepare the companys necessary journal entries. (b) Assuming a December 31 fi scal year end, how should the receivable for the uncollected amount on the share issue be presented on the statement of fi nancial position (1) under ASPE and (2) under IFRS?