Solve Both Please with steps (ASAP). For the second Question please give an explanation.

Sporting Goods Corporation began business in 2019 by issuing 25,000 shares of $1 par common stock for $6 per share and 10,000 shares of 5%, $5 par preferred stock for par. At year end, the common stock had a market value of $7.50. On its December 31, 2019, balance sheet, Sporting Goods would report a. Common Stock of $25,000. b. Common Stock of $150,000. c. Common Stock of $187,500. d. Paid-In Capital of $187,500. Notification by the bank that an out of town Note Receivable was collected from a customer with Interest for the company would require the company to make the following adjusting entry: a. Notes Receivable Cash b. Cash Notes Receivable Cash Notes Receivable Interest Earned d. No adjusting entry is necessary. C