Prepare the journal entries to record the transactions for the company for $2023.($List all debit entries before credit entries.

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 $0$ for the amounts. Round average share price to $2$ decimal

places, $5\mathrm{.}27$ and final answers to $0$ decimal places, e$.$g$.5,275.)$

No$.$ Account Titles and Explanation

Credit

Cash

Share Subscriptions Receivable

Common Shares Subscribed

Share Subscriptions Receivable

Common Shares Subscribed

Share Subscriptions Receivable

$312000$ Common Shares Subscribed

Share Subscriptions Receivable

$$

$1$

$($To record refund to defaulting subscribers$)$

$1$

Common Shares

$($To issue shares fully paid on subscriptions$)$

$]$

$1$

$$

CashCarla Vista Corp. had the following shareholders' equity on January $1,2023$:

The contributed surplus arose from net excess of proceeds over cost on a previous cancellation of common shares. Carla Vista

prepares financial statements in accordance with ASPE.

The following transactions occurred, in the order given, during $2023$:

Subscriptions were sold for $12,000$ common shares at $$26$ per share. The first payment was for $$8$ per share.

The second payment for the sale in item $1$ above was for $$18$ per share. All payments were received on the second payment

except for $2,000$ shares.

In accordance with the subscription contract, which requires that defaulting subscribers have all their payments refunded,

refund cheques were sent to the defaulting subscribers. At this point, common shares were issued to subscribers who had

fully paid on the contract.

Repurchased $22,000$ common shares at $$29$ per share. They were then retired.

Sold $4,900$ preferred shares and $3,300$ common shares together for $$311,000.$ The common shares had a fair value of $$31$ per

share.