Splish Ltd. showed the following information on its September 30, 2024 year-end financial statements. Preferred Shares, $9 cumulative, 500,000 shares authorized, 207,000 shares issued and outstanding $3,312,000 Common Shares, no par value, unlimited shares authorized, 648,000 shares issued and outstanding $5,832,000 R The following transactions occurred, in the order given, during 2025: (a) October 10, 2024: Received subscriptions and down payments for 79,000 common shares at $10 per share. The subscription contract calls for 40% of the subscription to be paid upon receipt, and the remaining 60% to be paid on November 30, 2024. In the event of default on the subscriptions, the company will retain the down payment (b) November 30, 2024: Received payment for 73,800 of the subscribed shares, the remaining 5,200 defaulted. Issued the share certificates for the appropriate number of shares. (c) January 1, 2025: Issued 10,500 preferred shares at $40 per share. (d) April 5, 2025: Repurchased and cancelled 21,100 common shares at a cost of $8 per share (e) August 15, 2025: Declared dividends for preferred shares (dividends had not been paid the previous year). Also declared $3 per share dividend for common shares. Both dividends are to be paid on October 1 to shareholders of record on September 30, 2025. (F) If the preferred shares had a $33 par value, what journal entry would be required for the January 1, 2025 transaction in part (c)? A Prepare the journal entries to record the above transactions for Splish Ltd. for 2025. (Round average share price to 2 decimal places for your calculations, eg. 52.75 and final answers to O decimal places, eg. 5,275. 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 O for the amounts.) No. Account Titles and Explanation (a) Common Shares Subscribed Debit Credit (b) Common Shares (To record sale of shares on a subscription basis) (To record collection of down payment) Cash Share Subscriptions Receivable (Collection of share subscriptions receivable) (c) (Collection of share subscriptions receivable) 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) Cash Preferred Shares (d) Common Shares Contributed Surplus Cash 420000 420000 (d) Common Shares Contributed Surplus Cash (e) Dividends Dividends Payable (To record dividend declaration for preferred shares) Dividends Payable (To record dividend declaration for common shares) Dividends Payable Cash (f) (To record payment of dividends) (e) Dividends Dividends Payable (To record dividend declaration for preferred shares) Dividends Payable (To record dividend declaration for common shares) Dividends Payable (f) Cash (To record payment of dividends)