CodeInc. is a private gaming company that follows ASPE. CodeInc. has been authorized to issue an unlimited number of common shares and $50,000$ preferred shares. The dividend rate for the preferred shares is $$3$ per share. The following transactions took place during $2023$ in relation to these shares.

Jan $01$ The charter states that an unlimited number of common shares and $50,000$ preferred shares are authorized.

Feb $01$ Shares were sold on a subscription basis to three potential investors. Each investor purchased $10,000$ shares for $$50$ per share. A $10\%$ payment was received immediately. The balance was to be paid by December $31,2024.$ Following the final payment, shares will be issued.

Feb $20$ Another batch of shares were sold on a subscription basis to seven potential investors. Each investor purchased $10,000$ shares for $$50$ per share. Similar to above, a $10\%$ payment was received immediately. However, the balance will be paid by December $31,2023.$ Following the final payment, shares will be issued.

Mar $0350,000$ common shares were sold by an underwriter for $$52$ per share. The underwriter charged CodeInc. a $5\%$ commission on the sale.

May $10$ CodeInc. paid $$17,000$ in accounting and legal fees tied to the issuance of shares.

Sept $23$ CodeInc. issued $2,000$ common and $1,000$ preferred shares for a total of $$200,000.$ The company was unable to estimate a fair value of the preferred shares, however the value of common share is $$52$ per share.

Nov $28$ CodeInc. has offered their senior manager a compensation incentive which entails the opportunity to purchase $500$ common shares for $$52,$ to be paid by December $31,2024.$ The manager has accepted and signed a note payable. You do not need to account for interest. The shares were issued immediately.

Dec $31$ Of the subscriptions issued on February $20,$ two subscribers defaulted meanwhile the rest paid in full. Company policy is that defaulting subscribers would not be issued shares for any amount that had been paid and no cash would be refunded.

Dec $31$ CodeInc. declared a dividend of $$200,000$ for $2023.$

Prepare the journal entries to record the transactions for the year.