Swifty Corp. offers shares on a subscription basis to selected individuals, giving them the right to purchase 16 common shares at a price of $20 per share. Fifty individuals accept the company's offer and agree to pay 50% down and the remaining 50% at the end of six months. Assume that subscribers to 48 Swifty common shares default on the final payment. If the subscription contracts state that amounts paid by defaulting subscribers will be refunded, what would the journal entry look like? (List all debit entries before credit entries. Credit account titles ore 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.)