Required1. Prepare the entry to record the issuance of the common stock warrants

Required1. Prepare the entry to record the issuance of the common stock warrants on March 2 2007.2. Prepare journal entries to record the following transactions:a. The sale of the 10000 shares of $50 par preferred stock with detachable warrants on March 6 2007.b. The exercise on March 19 2007 of 6000 of the stock warrants that had been attached to the preferred stock (the common stock price is currently $24 per share and the preferred stock is selling ex rights for $79 per share).c. The exercise on April 2 2007 of 120000 stock warrants issued in conjunction with the preemptive right (the common stock is currently selling at $23.50 per share).d. 4000 stock warrants related to the preferred stock and 80000 stock warrants related to the preemptive right expire on April 6 2007.