Shamrock Ltd had the following shareholders' equity on December 31, 2021: Common shares, 2,800,000 shares issued and outstanding Contributed surplus (Common shares) Retained earnings Total shareholders' equity $8,400,000 14,000 21,700,000 $30,114,000 The following transactions occurred, in the order given, during 2022: (a) (b) 440 subscriptions were sold for common shares. Each subscription entitled the purchaser to purchase 20 shares in the company at a price of $6 per share. According to the subscription contracts, a payment of $31 per subscription was required at the time the subscriptions were sold. As per the subscription contracts, the second payment was for the balance of the subscription price. All but 60 the subscribers made this payment. The subscription contracts specify that, in the event of default, the first payment will not be refunded to defaulting subscribers. Also at this time, common shares are issued to subscribers that have fully paid on the contract. Shamrock repurchased and cancelled 100,000 common shares at a cost of $2.30 per share. A cash dividend of $0.30 per share was declared. The date of record was after all of the events above. (c) (d) (e) Prepare the journal entries to record the above transactions for Shamrock Ltd. for 2022. (Round average share price to 2 decimal places for your calculations, e.g. 52.75 and final answer to 0 decimal places, e.g. 5,275. 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.) Debit Credit No. Account Titles and Explanation (a) Share Subscriptions Receivable 52,800 Common Shares Subscribed 52,800 (To record sale of shares on a subscription basis) Cash 13,640 Share Subscriptions Receivable 13,640 (To record collection of down payment) (b) Cash 45,600 Share Subscriptions Receivable 45,600 (C) Common Shares Subscribed Common Shares (To record forfeit of payment from defaulting subscribers) Common Shares Subscribed Share Subscriptions Receivable (To record issuance of shares) (d) (c) Common Shares Subscribed Common Shares (To record forfeit of payment from defaulting subscribers) Common Shares Subscribed Share Subscriptions Receivable (To record issuance of shares) (d) (e)