on 1/2/13 bray corporation issues 900 shares of $100 par convertible preferred stock for $117 per share. on 1/7/14, all the preferred shareholders convert their their shares to common stock.

1. prepare the 1/2/13 journal entry to record the issuance of the preferred stock

2. prepare the 1/7/14 journal entry to record the conversion assuming the preferred stock contract states that each share of preferred stock on convert. into 7 shares of $10 common stock and each share of of preferrd stock on convert. into 12 shares of 10 common stock.

in excel format please