The contributed surplus arose from net excess of proceeds over cost on a previous cancellation of common shares. Crane prepares financial statements in accordance with ASPE. The following transactions occurred, in the order given, during 2023: 1. Subscriptions were sold for 12,000 common shares at $26 per share. The first payment was for $10 per share. 2. The second payment for the sale in item 1 above was for $16 per share. All payments were received on the second payment except for 2,000 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 22,000 common shares at $29 per share. They were then retired. 5. Sold 5,900 preferred shares and 2,800 common shares together for $311,000. The common shares had a fair value of $31 per share. Prepare the journal entries to record the transactions for the company for 2023. (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 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.) Common Shares Subscribed Common Shares \begin{tabular}{|r|r|} \hline 52,000 \\ \hline \end{tabular} (To issue shares fully paid on subscriptions) 4. Common Shares 87,800 52,000 \begin{tabular}{r} \hline 52,000 \\ \hline \end{tabular} Common Shares Contributed Surplus 320,000 Retained Earnings 230,200 Cash 638,000 5. Cash 311,000 Common Shares 86,800 Preferred Shares 224,200