Oriole Ltd. offered to seli common shares on a subscription basis. Each subscription allowed for the purchase of 10 shares at a price of $70 per share. Terms of the subscription stated that subscribers were to pay 45% of the price as a down payment, with the remainder due in six months. On June 1,2023, 200 subscriptions were sold. Six months later, on December 1, only 100 of the subscriptions were fully paid for. According to the subscription contract, the compary would retain the down payment on any defaulted subscriptions. (a) Prepare the journal entries to record the above transactions. (list all debit entries before credit entries. Credit occount titles are outomatically indented when the amount is entered. Do not indent manually, If no entry is required, select "No Entry" for the account titles. and enter 0 for the amounts.) Dec 1,2023 Cash. \begin{tabular}{|} 38500 \\ \hline \end{tabular} Share Subseriptions Recelvable (Collection of share subscriptions receivable) Common Shares Subscribed Common Shares (To record issuance of shares) Common Stares Subseribed 70000 Share Subscriptions Receivabie Share Subscriotions Recelvable (To record forfeit of payment from defaulting subscribers) Prepare the December 1 journal entry, assuming instead that Oriole refunded the down payment on the defaulted subscriptions. (List all debit entries before credit entries. Credit account titles are outomatically 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.)