3. The Federal Reserve (Fed) purchase U.S. securities from Marc Co Inc. for $3500. a. Record the transaction into the Fed's balance sheet and Marc Co Inc.'s balance sheet if Marc deposits the check received from the Fed at PNC Bank. What will happen to C, R, MB and M? b. Record the transaction into the Fed's balance sheet and Marc Co Inc.'s balance sheet if Marc cashes directly the check received the Fed. What will happen to C, R, MB and M?