Skysong Corporation had the following shareholders' equity on December 31, 2022: Common shares, 1,080,000 shares authorized, issued and outstanding Contributed surplus (Common Shares) Retained earnings Total shareholders' equity $6,480,000 75,000 10,800,000 $17,355,000 The following transactions occurred, in the order given, during 2023: (a) (b) (c) (d) (e) 1,130 subscriptions were sold for common shares. Each subscription entitled the purchaser to purchase 10 shares in the company at a price of $8 per share. According to the subscription contracts, a payment of $22 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. Of the 1,130 subscribers, 100 defaulted and did not make this second 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. Skysong repurchased and cancelled 52,000 common shares at a cost of $4 per share. A cash dividend of $0.25 per share was declared. The date of record was after all of the events above. Prepare the journal entries to record the above transactions for Skysong Corporation for 2023. (Round average share price to 2 decimal places for your calculations, e.g. 52.75 and final answers to O decimal places, e.g. 5,275. List all debit entries before credit entries. Credit accoun 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.) No. Accounts Titles and Explanation (a) Share Subscriptions Receivable Common Shares Subscribed (To record sale of shares on a subscription basis) Cash Share Subscriptions Receivable (To record collection of down payment) (b) Cash Share Subscriptions Receivable (c) Common Shares Subscribed Share Subscriptions Receivable Contributed Surplus (To record forfeit of payment from defaulting subscribers) Common Shares Subscribed Common Shares (To record issuance of shares) (d) Common Shares Cash Contributed Surplus (e) Dividends Dividends Payable Debit 90400 24860 Credit 90400 00000 00 10000 11