c. Assume that the 52,000 shares of preferred stock are callable for $12 per share at the option of the issuer, Gilmore. After issuing 1,300 shares of callable preferred stock on January 1, 2020, for $12, Gilmore recalled 260 shares of preferred stock on June 30, 2020, for $12. Record the entries for Gilmore on January 1, 2020, and on June 30, 2020. Date Account Name Jan. 1, 2020 Cash Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock June 30, 2020 Preferred Stock Cash Paid-in Capital-Treasury Stock Dr. Cr. 0 x 0 0 x 0 0 x * * x 0 x 0 x 0 0 0 0 x d. Assume that each of the 52,000 shares of preferred stock is convertible into 2 shares of common stock at the option of the stockholder. After issuing 1,300 shares of convertible preferred stock on January 1, 2020, for $12, 260 shares of preferred stock were converted into common stock on June 30, 2020. Record the entries for Gilmore on January 1, 2020, and on June 30, 2020, assuming that the fair value of the preferred stock was $16 per share on June 30, 2020. Date Account Name Jan. 1, 2020 Cash Preferred Stock Cash June 30, 2020 Preferred Stock Cash Common Stock Cash Dr. Cr. 0 * 0 0 0 x x 0 0 x 0 * 0 0x 0 0 0 x 0 x