Stellar Corp. had the following shareholders equity on January 1, 2020:

Common shares, unlimited number authorized, 100,000 shares issued and outstanding		$	279,000
Contributed surplus			312,000
Retained earnings			2,110,000
Total shareholders equity		$	2,701,000

The contributed surplus arose from net excess of proceeds over cost on a previous cancellation of common shares. Stellar prepares financial statements in accordance with ASPE. The following transactions occurred, in the order given, during 2020.

1.		Subscriptions were sold for 10,200 common shares at $28 per share. The first payment was for $8 per share.
2.		The second payment for the sale in item 1 above was for $20 per share. All payments were received on the second payment except for 1,700 shares.
3.		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.
4.		Repurchased 21,700 common shares at $31 per share. They were then retired.
5.		Sold 5,000 preferred shares and 4,000 common shares together for $314,000. The common shares had a fair value of $32 per share.

Prepare the journal entries to record the transactions for the company for 2020. (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, 5.27 and final answers to 0 decimal places, e.g. 5,275.)

No.	Account Titles and Explanation	Debit	Credit
1.
2.
3.
	(To record refund to defaulting subscribers)
	(To issue shares fully paid on subscriptions)
4.
5.

SHOW LIST OF ACCOUNTS

Assume that the subscription contract states that defaulting subscribers forfeit their first payment. Prepare the journal entries for items 2 to 4 above. (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, 5.27 and final answers to 0 decimal places, e.g. 5,275.)

No.	Account Titles and Explanation	Debit	Credit
2.
3.
	(To record forfeit of payment from defaulting subscribers)
	(To issue shares fully paid on subscriptions)
4.