Share subscriptions
On April 28, 2020, Sweden Inc. accepted subscriptions for 10,000 of its no par value common shares. At this time, the shares were selling for $ 45 each. A 40% down payment was received with the remainder due in six months. On October 28, 2020 the balance of the subscription price was received and the shares were issued.
Instructions
a) Prepare the journal entries required on April 28, 2020.
b) Prepare the journal entries required on October 28, 2020.

Question

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The Answer of Share subscriptions
On April 28, 2020, Sweden Inc. accepted subscriptions for 10,000 of its no par value common shares. At this time, the shares were selling for $ 45 each. A 40% down payment was received with the remainder due in six months. On October 28, 2020 the balance of the subscription price was received and the shares were issued.
Instructions
a) Prepare the journal entries required on April 28, 2020.
b) Prepare the journal entries required on October 28, 2020.

Share Subscriptions On April 28, 2020, Sweden Inc. Accepted Subscriptions for 10,000