On July 1, 2021, Nall Co. issued 2,500 shares of its $10 par common stock and 5,000 shares of its $12 par preferred stock for a lump sum of $140,000. At this date Nall's common stock was selling for $18 per share and the preferred stock for $24 per share. a. Record the journal entry for this allocation and insurance using the proportional method. b. Record the journal entry for this allocation and issuance using the incremental method, assuming you do not have the market value for preferred stock.