(10) Fabbot had 1,000 shares of common stock, 1,000 shares of cumulative preferred stock, dividend $4, and 1,000 shares of non-cumulative preferred stock, dividend $5. Fabbot paid dividends to its common shareholders last year and declared a $24,000 dividend on December 1, 2022. They paid the dividend on December 15.2022. Record the joumal entry for the declaration of the dividend and the payment of the dividend. 5. (14) Gabbet began operations in 2021 Gabbet issued 1,000 shares of common stock, 1,000 shares of six percent \$5 par value cumulative preferred stock, and 1,000 share of six percent \$6 par value non-cumulative preferred stock on January 1,2021. Neither preferred stock is subordinate to the other. Gabbot paid $440 in dividends in 2021 and $2.000 in dividends in 2022. Record the journal entry for the declaration of the dividend