The contributed surplus arose fhom 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 13,400 common shares at $26 per share. The first payment was for $8 per share. 2. The second payment for the sale in item 1 above was for $18 per share. All payments were received on the second payment except for 2700 shares. 3. In accordance with the subscription contract, which requires that defauiting subscribers have all their payments refunded, refund cheques were sent to the defautine rubvcribers At this point, common shares were issued to subseribers who had fully pald on the contract. 4. Repurchased 22,140 common shares at $28 per share. They were then retired. 5. Sold 5,500 preferred shares and 3,200 common shares together for $309,000. The common shares had a fair value of $31 per share. Prepare the journal entries to record the transactions for the company for 2020. (Credit occount tities are outomothcally indented When the amount is entered. Do not indent manwily. If no entry is required, select 'No Entry" for the account titles and enter of for the amounts. Round overage share price to 2 dedmai ploces, 5.27 and final answers to 0 declinal ploces, es. 5.275. 3. (To record refund to defaulting subscribers) (To issue shares fully paid on subscriptions) 4