Mercury Corporation issued 6,000 shares of no-par common stock for $45 per share. Mercury also issued 3,000 shares of $50 par, 5 percent noncumulative preferred stock at $52 per share. Required a. Record these events in a horizontal statements model. b. Prepare journal entries to record these transactions. Complete this question by entering your answers in the tabs below. Required A Required B

Mercury Corporation issued 6,000 shares of no-par common stock for $45 per share. Mercury also issued 3,000 shares of $50 par, 5 percent noncumulative preferted stock at $52 per share. Required a. Record these events in a horizontal statements model. b. Prepare journal entries to record these transactions. Complete this question by entering your answers in the tabs below