Otis Thorpe Corporation has 10,490 shares of $100 par value, 5% preferred stock and 52,400 shares of $10 par value common stock outstanding at December 31, 2014. Answer the questions in each of the following independent situations

A. If the preferred stock is convertible into 7 shares of $10 par value common stock and 3,800 shares are converted, what entry is required for the conversion assuming the preferred stock was issued at par value?(Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

B If the preferred stock was issued at $106 per share, how should the preferred stock be reported in the stockholders equity section? (Enter account name only and do not provide descriptive information.)