Sun Life Financial Inc. disclosed the following information in a press release: - TORONTO (February 11, 2010) - The Board of Directors of Sun Life Financial Inc. (TSX/ NYSE: SLF) today announced a quarterly shareholder dividend of $0.36 per common share, payable March 31, 2010, to shareholders of record at the close of business on February 24, 2010. This is the same amount as paid in the previous quarter. The Board of Directors of Sun Life Financial Inc. also announced the following quarterly dividends on its Class A Non-Cumulative Preferred Shares payable on March 31, 2010, to shareholders of record at the close of business on February 24, 2010: $0.296875 per Series 1 share; $0.30 per Series 2 share; S0.278125 per Series 3 share; $0.278125 per Series 4 share; and $0.28125 per Series 5 share and $0.375 per Series 6R share.

Assume that Sun Life has the following number of shares outstanding at the date of dividend declaration: Common shares, 565 million: Preferred shares, Series 1-16 million, Series 213 million, Series 3-10 million, Series 4-12 million, Series 5-10 million, Series 6R10 million.
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1. Prepare the journal entries to record the declaration and payment of dividends to common shareholders.
2. Prepare the journal entries to record the declaration and payment of dividends to preferred shareholders.